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A preservation group hopes to raise £200,000 to purchase a meadow and woodland after a bid it placed on the land was accepted.
Rodborough Fields Preservation Group (RFPG) said it would set aside the 9.42-acre (3.8 hectares) site bordering the River Frome in Rodborough, Gloucestershire, for recreational use.
After the success of an informal tender submitted on 1 April for Lot 1 north of Arundel Drive, a three-year business plan is now being prepared.
The preservation group said further funds would be required to help provide community access and boost the biodiversity of the area.