The outline application will see Gleadhill House, three buildings used for jockey accommodation and a stable complex torn down to make way for the properties in Dawbers Lane.
The site is owned by Northern Trust, of which property tycoon and owner of Preston North End FC Trevor Hemmings is principle stakeholder.
A spokesman said: “Gleadhill House Stud are pleased to announce the planning approval for the development of 12 detached homes in an exclusive community on land off Dawbers Lane in Euxton. The self-build properties will meet a specific part of the government’s aims to boost the supply of housing. The original plans were amended to reduce the number of dwellings and the area of land to be developed. As part of the plans Gleadhill House Stud will be investing in improving local open space schemes, school places and the public footpath network. We look forward to work commencing on the new development in the near future.”
The firm had originally applied for consent for 15 houses.
Chairman of Euxton parish council Katrina Reed voiced her objections to the plans.
After the council’s decision she said: “The concerns were in the main regarding the inclusion of green belt land within this site. ‘Nibbling around the edges’ I think was how one member of the development committee stated plus the loss of the ‘openness’ of the area. Reassurances were given regarding future applications within Chorley regarding the green belt and the number/volume of plots on this particular site, residents can only hope that these measures are as robust as is necessary.”