The former McBride aerosol factory in Hull is set to be acquired by the council for almost £3m.
The authority has agreed to purchase the site on West Carr Lane, on the Sutton Fields Industrial Estate, for £2.95m.
The factory complex is next to Hull City Council’s Stockholm Road Depot, which is shared by its streetscene team and building repair and maintenance company KWL.
Some of the site will be used to allow expansion of the depot. There is also the potential to create a new business park to provide serviced plots for sale to support new business premises.
Cllr Daren Hale, the council’s portfolio holder for economic regeneration, said: “We see this as a strategic acquisition, at market value, of a site that is uniquely placed to provide for the expansion of our main Streetscene KWL depot and potentially accommodate other waste and cleansing operations at the site.
“It will assist us in fitting infrastructure to be carbon-neutral by 2030.
“The site also has potential to provide much-needed development plots for new business premises.”