A 10.23-acre strip of land in Holymoorside was put up for sale last month, marketed as an ‘excellent opportunity’ to buy real estate just 3km from the Peak District.
Holymoorside Parish Council and residents raised £40,000 in a bid to buy the land, between the 17th Century Jacobean Hipper Hall and the River Hipper, off Holymoor Road.
Coun Martin Thacker, chair of Holymoorside and Walton Parish Council, said villagers must now wait to see what will happen to the land.
“There was a valiant attempt by the village to raise funds,” he said.
"We managed just over £40,000 but it wasn’t enough to make a bid on the plots. I have been led to believe that significant amounts were submitted.
"We are awaiting news of what happens next.”
Residents in Holymoorside are determined to retain the ‘rural character’ of their village and a meeting took place to discuss ways of preventing housing development on the land.
Coun Thacker has said that although the strength of feeling against development is ‘palpable’, it has nothing to do with ‘not in my back yard’.
"It is about protecting the rural character we have as a village,” he said.
"People in the village are not against building, but it should be in appropriate places.
"There is a green belt feel to Holymoorside which we wish to retain.
"The land is a public right of way which provides great leisure opportunities and the village is known for its walkways.
"It is also about the historical setting of Hipper Hall, which can be viewed from the road with its ancient cruck barn.”
Hipper Hall, a Grade II listed 17th Century Jacobean hall, is on the market separately and valued at £1million.
The strip of land is for sale, as a whole or in two separate lots, with land and estate agent WT Parker.
Details on the agent’s website say: “Lot 1 has road frontage on Holymoor Road with the potential for approximately three infill properties, subject to planning.
"The property currently lies outside the settlement development limits and within the green belt.”