Stockport Council bought the site in January 2011 and is planning to develop a high quality office quarter and a landscaped public space outside the railway station, as well as a hotel and improved car parking.
Muse, part of Morgan Sindall Group, will now be recommended to the council's executive committee in a report to be presented for approval on 16 December 2011.
Morgan Sindall Group chief executive Paul Smith said: "We are delighted to be selected as preferred bidder on this regeneration scheme for what is set to be an exciting development for Stockport. Muse has been highly successful recently in securing a number of regeneration projects including Basingstoke and Deane, Warrington and Chester, which have a total development value of approximately £590m. Regeneration schemes are large scale and complex projects which very few companies are capable of delivering. Morgan Sindall has these capabilities and we see this part of the business as a key growth area in our medium term strategy."