Land bordering Swindon Road just by the entrance to Highworth Golf Club will be transferred form the ownership of Swindon Borough Council to its wholly-owned housing company.
The decision has been taken by the authority's cabinet members for finance, Councillor Russell Holland and the cabinet member for strategic planning Councillor Garry Sumner.
The plan ifs for the hopusing company to build five houses on the triangle of land and sell them on the open market to increase revenue for the council.
A budget of £2.9 million has also been allocatted to the project form the authority's cofers.
It expects the sale of the houses on the open market to net £3.5m, brining in a surplus of £550,000.
Local councillors in Highworth were not in favour of the scheme, and would prefer 'affordable' homes.
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