An amazing 60 flats and four shops are to be built on the one acre site of the old Rose Farm Dairy in Albert Street, Fleet.
There will be 45 apartments for private sale, 15 homes for "affordable occupation by local people", plus the four shops.
Work will start later this summer and prices for the new flats are expected to start from £200,000. Even at the starting price, Barratts stand to realise £9 million from just the 45 flats, a sum which the old family owned dairy probably never earned in all its history.
The plans were refused by Hart Council about a year ago, but Barratt Homes has now won consent after a successful planning appeal.
One of the grounds for refusal was that the scheme did not include an open "town square" off the road frontage. Barratt argued at appeal that this was unreasonable, and the inspector agreed.
Said Trevor Sawyer, managing director of Barratt Southern Counties: "We are delighted. This is exactly the sort of project the government has clearly stated it wants to see - because it utilises ex-industrial land instead of the Green Belt and brings housing opportunities and vibrancy to a town centre so that residents will be less dependent on car use."
Mr Sawyer added: "What we are offering is the total regeneration of an eyesore site in the heart of a very pleasant north Hampshire town, bringing new housing opportunities at value for money prices in an area where there is strong demand. What's more, this is definitely not an intrusive high rise scheme. By contrast, it is a very smart, traditionally-built development designed specifically for the site and rising to just three storeys.
"We have no doubt that it will be a significant social and economic asset to Fleet."