Planning permission has been granted for the 12.5-acre Orbital 1 development next to junction one of the M60 in Stockport.
Scarborough Group submitted a planning application for Orbital 1 to Stockport Council in December to deliver a mixed-use development to include industrial, trade counter and retail.
Works can now start on site in preparation for the main construction work, which are expected to start later this year.
Developers hope to attract businesses and customers from across the South Manchester area.
The first phase will comprise the development of 55,000 sq ft of retail space and significant investment in infrastructure.
Scarborough Group will begin the works with the construction of a new highway junction, which will provide improved access to the development.
Detailed plans for the 72,500 sq ft of industrial and trade counter units and a 1,500 sq ft café will be submitted imminently.
The site has a gross development value of more than £20m and is expected to create more than 300 jobs for the local region.
Kate Howe, associate director, Scarborough Group, said: “The success of the application has been largely due to the extensive discussions we have had with the local authority over the last 18 months to achieve a use mix and design that meets the needs of both commercial and retail occupiers, as well as complimenting the wider aspirations and regeneration plans for the Stockport area.
“Orbital 1 will regenerate a highly visible location at the gateway to Stockport and provide a key destination for both retail and industrial users.
“We have seen very strong occupier demand and are confident that we will announce significant lettings in the near future. ”
Knight Frank and Davies Harrison are acting as joint industrial agents for Scarborough Group and Lambert Smith Hampton is acting for the retail occupiers.