The 500-acre Woodford Aerodrome site near Stockport is to be turned into a film studio.
Regional screen agency Vision+Media has confirmed the move but it is not yet clear how it will fit in with an ongoing public consultation over future uses of the site.
Earlier this year Stockport Council, Cheshire East Council and landowner BAE Systems held a series of public exhibitions and design workshops to find out local people's views and aspirations for the site.
Private as well as social housing, a medical centre and sports facilities were among the most popular options.
On Wednesday Stockport Council said it was still preparing a 'Supplementary Planning Document' which will be formally adopted in spring 2012 and guide the future redevelopment of the site.
Meanwhile, it appears that BAE, which is closing the site, has been holding talks with Vision+Media and a businessman called John Harvey about using it for film production.
Harvey incorporated Woodford Film Studios Ltd on September 26 and Vision+Media publicised the new location in its newsletter on Tuesday.
It said: "The site offers huge production build facilities, office accommodation, vast expanse of hard standing and green space for technical parking plus many individual annex buildings for storage, construction and prop houses. Full phase power & water facilities are present throughout the site."
Vision+Media's Kaye Elliot told media news website How-Do the move could revolutionise the film industry in the region which was lacking a production space for feature films.
In a statement BAE said: "BAE Systems can confirm that we have accepted an offer for the BAE Systems site at Woodford in Cheshire. We are in negotiation for the purchase of the site and the sale will be confirmed, subject to contract. Further information will be made available upon conclusion of the sale."