Peel L&P is drawing up proposals for a 500,000 sq ft speculatively-built industrial development on North Road in Ellesmere Port.
According to Peel, the scheme could be brought forward as a number of units of varying sizes.
The site is bounded by Eastham Refinery to the north west and by North Road to the south west.
The site was previously an oil storage depot between 1956 and 1969, before it was fully decommissioned in 1999.
It is opposite Vauxhall Motors, and further along from another Peel-owned site on North Road, the former location of the Gulf Oil terminal.
This plot gained planning permission for 230,000 sq ft of industrial and storage space in 2017 and forms part of Pioneer Point.
An outline planning application has been submitted to Wirral Council, including a consultation with Cheshire West & Chester Council, as the site sits on the boundary between the two authorities.
James Whittaker, group development director for Peel L&P, said: “Peel L&P has outline plans for up to 500,000 sq ft of employment development at North Road on the Wirral and Ellesmere Port boundary.
“This is a new application for this particular vacant site as we’re looking to build on our success in delivering nearby employment schemes and creating further jobs in the area. This accessible site is extremely well located and within an existing well-established employment cluster.”