Eversheds Sutherland acted with Fisher German on the sale.
The development site in Warwickshire has planning permission for 850 homes, with more than 200 being affordable.
Luke Brafield, partner at Fisher German, said: “The sustainable plan for the site includes a local centre, new primary school and more than £14m in contributions to open space, sport and recreation, highways improvements, education, police infrastructure and healthcare for the local community.
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“With Nuneaton located between Birmingham, Leicester and Coventry, the site will provide much-needed housing stock in the heart of the Midlands for families and commuters, including 212 affordable homes.”
The sale comes three years after phase one was sold to Jelson Homes in a deal with planning permission for 150 homes.
Fisher German advised on the disposal strategy and sale of all three phases and was able to secure the transactions on behalf of the landowner.
Luke stated that the latest sale took place in the middle of the Covid-19 lockdown, and therefore it was “extremely positive” that it not only completed on such a large site, but also achieved a good price for its client.
“The industry, as a whole, is experiencing uncertainty, but we were able to provide strategic advice to the landowner and devise a suitable process which helped us to secure the sale,” he added.
“We look forward to seeing the site develop under Taylor Wimpey and Jelson Homes in due course.”