Pegasus plans to build a block of 61 pensioner flats on a brownfield site, previously commercial buildings, in the town centre.
Construction is expected to start in early 2024 and complete in summer 2025.
Pegasus is owned by US private equity firm Oaktree Capital Management. Along with other property development vehicles Anthology and Renaissance it is part of the Lifestory group.
Pegasus land director Daniel Perfect said: “This latest acquisition represents our ambition to deliver much-needed high-quality homes for independent later living across the UK.”
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