Part of a former naval air base is to be used by coastguards to launch their search and rescue helicopter.
The coastguard agency plans to build a helicopter hangar on the site
The Ministry of Defence has sold 256 acres of HMS Daedalus in Lee-on-Solent, Hampshire, to The Maritime and Coastguard Agency.
A helicopter hangar and office block will also be built there by 2007.
The remaining 204 acres on the site have been sold to the South East Development Agency for aviation and marine-related businesses and homes.
Daedalus, one of the largest brownfield sites in the Solent area, was the scene of controversy when the government earmarked it for a new asylum centre. It later abandoned the plan.
The agency also hopes to provide residential accommodation for key workers and affordable housing for low-income families.