Terrace Hill plans to develop a 1,394m2 net foodstore and a petrol filling station, as well as access infrastructure including a new roundabout junction on the A172.
A planning application is expected to be submitted next month. If permission is granted, Terrace Hill anticipates that the supermarket will be open by March 2015 after a 10 month construction phase.
Terrace Hill chief executive Philip Leech said: "Having completed the development and sale of three substantial foodstores earlier this year, totalling 189,265 sq ft, the conditional acquisition of this site in Stokesley adds to our pipeline of foodstore developments. The pipeline now comprises two large developments in the planning process which are at Herne Bay and Middlesbrough, totalling approximately 225,000 sq ft, and a number of others which are under contract or review. We see considerable further opportunities in this specialist sector where we are firmly established as one of the market's leaders."