A government housing agency has bought nearly 150 acres of land earmarked to become a future garden town.

Homes England, set up by Housing Secretary Sajid Javid in a bid to boost housebuilding, has acquired land near junction 11 of the M20 between Lympne and the Lympne Industrial Estate.

The value of the deal with Somerston Capital was undisclosed.

The land will form part of plans for Otterpool Park, a 12,000 home garden town near Folkestone.

It is being put forward by Shepway District Council and Cozumel Estates, the owners of the former Folkestone Racecourse at Westenhanger.

Homes England aims to intervene in the market to help the government reach its target of 300,000 homes a year being built by the middle of the next decade.

Its South East general manager Paul Kitson said: "Buying this land shows how Homes England is determined to use our finance and expertise to expand the delivery of affordable new homes and connect ambitious partners.

"We have been very impressed by the ambition shown by the council and landowners to deliver Otterpool Park – a garden town for the 21st century.

"Owning this land will give us a voice in delivering a community that will meet the local need for homes in a place that is truly environmentally, socially and economically sustainable."

David Monk, leader of Shepway District Council, said: "I am delighted that Homes England has co-invested with the council to deliver Otterpool Park.

"It shows the government has faith in our plans for this garden town.

"This investment will help us deliver an even better place so that our children and grandchildren can have the homes they need in a community that will also meet their needs for jobs, access to the countryside, transport links, schools, health centres and a great quality of life."