The 60-acre former Ford Transit Van factory at Southampton could be on the brink of warehouse development.
Local sources say that a developer with European links is close to paying more than £700,000 an acre for the site.
The Ford site, at Swaythling, is regarded as ideal for logistics because it is close to Southampton Airport and junction 5 of the M27 motorway.
Ford ended production of the Transit at Southampton in July 29013.
Development has been delayed because the site is owned by several parties. It is understood that Ford and Southampton City Council have significant interests, as have private landlords.
Cushman & Wakefield, who are believed to be acting on the sale, declined to comment.