Property firm Hilton Estates plans to breathe new life into the site, with a three-pronged proposal to develop a centre for outdoor pursuits.

Aplication has been submitted to build a series of new hangars to meet increasing demand for flight training. There are also separate plans to demolish the World War Two control tower and replace it with a two-storey modular building to provide “upgraded and improved visitor reception facilities” that will “become the heart of all the airfield activities”.

A third planning application, yet to be submitted, will ask for permission to create a series of off road tracks, to offer driving experiences to public and corporate customers.

A spokesman for Hilton said: “As owners of the airfield and outdoor activities centre, the applicants wish to grow the outdoor activity and aviation offer in view of the fact the annual music festival will no longer be visiting Balado.

“The applicants have reviewed the quality and scale of provision of existing facilities and decided that the three proposals, all located around the existing central control area, would offer an improved and more varied visitor offer and go some way to filling the economic gap created by the loss of the major music festival.”

Scotland’s biggest music festival was forced to move away from the Kinross-shire park after an underground gas pipeline sparked health and safety fears.

The show moved to Strathallan Castle in 2015, where it was put on hiatus after two problematic years.

Agents for Hilton Estates said the new developments will be more than 165m from the gas pipeline.