Peel, St Modwen and Langtree have been shortlisted by Shell to buy the 1,600-acre Carrington site in Trafford.
The bids for the large brownfield redevelopment opportunity exceeded Shell's initial target price of around £20m.
The former chemical plant site could hold 1,560 homes and 185 acres of employment space.
Jones Lang LaSalle advises Shell. All parties declined to comment.
A buyer is expected to be chosen by the end of the year.