The buyer of the Toyota site at Woolooware Bay forecasts the new business park it is planning will create thousands of jobs, with strong interest already fielded from global and national brands.
This will require higher density development across the site through a long-term masterplan, which can be sought under the present B7 zoning.
A Planning Proposal is expected to be submitted to Sutherland Shire Council within the next month.
The state government will be asked to support the new employment "hub" by upgrading the road system in the area.
Privately owned Aliro Group, through its institutionally backed Industrial Value Fund, AGIVF, purchased the site in March this year, and settlement is due to take place in November.
Aliro managing director and chief executive Daniel Wise said the intention was for the site to become a major job generating hub that will provide a diverse range of employment opportunities.
"Aliro has been fielding strong interest from a range of leading global and national brands keen to secure a position on this unique 12.4 hectare site," he said.
"There has been strong inquiry from a range of uses including logistics, education, corporate office, recreational, food and beverage and multiple film production studios.
"The estate will create a strong employment hub within the shire.
"Importantly, the creation of this significant employment hub will provide an opportunity for businesses to attract and retain a mix of different local skills."
Mr Wise said, given the scale and strategic location of the site, it represented a generational and industry-creating opportunity to secure significant international investment for Sydney and NSW.
"Together with the appropriate government support and investment, we anticipate creating thousands of direct and indirect jobs upon completion," he said.
"This comes at a critical time for NSW and the community, particularly in the midst of the COVID-19 pandemic.
"We are currently scoping possibilities for the future of the site, however local jobs are a key focus.
"The great thing about this iconic site is that the possibilities are endless.
"The scale of the site, including the potential for adaptive reuse of the existing buildings, provides the opportunity to deliver more jobs and amenity for the shire community."
"We will work with the council, government, local business and the community to deliver an outstanding result for the site and the shire.
"To ensure the site achieves its maximum potential, we will be looking for government to support critical and important transport infrastructure investment to and around the site to ensure safe and effective access and traffic flow for occupants, business and the surrounding community"
There are six buildings on the site, including a 26,000 square metre warehouse, which is about 220 metres long and 100 metres wide.
Two other buildings, including the three-storey Toyota House, are 80 to 100 metres long.
Toyota House, containing executive offices and spacious open plan work spaces, has commanding views over Woolooware Bay.
The main office, on the north-western corner, has its own kitchen and bathroom and adjoins a boardroom with 20 leather-covered chairs.
The site's magnificent grounds and gardens have been maintained by a full-time gardener. This includes a putting green and three hole par 3 golf course, which helped make the site a coveted place to work and could provide a further attraction for businesses and open the site to the existing boardwalk.
