The one-off would follow Grimshaw, played by actor Bruno Langley, facing "everyday challenges at work, study and romance" as he starts a new life in London.
The character was last seen leaving the cobbles after cheating on fiance Sarah-Louise in a gay affair.
According to the newspaper, the spinoff would be aimed at a gay audience - as well as older Corrie fans - and would be scheduled in a late night slot.
More: Soaps
Soap Scoop
Home and Away shooting aftermath - videoWatch the latest Channel 5 trailer for Home and Away's Charlie plot.
Soaps Interviews
Neighbours star teases Rhys's futureBen Barber chats to us about his latest Neighbours plot and more.
Soap Ratings
EastEnders grabs 9.2m with custody trialEastEnders tops the 9m mark on Thursday evening.
Reality Bites
Does Simon Cowell have new SuBo?: VideoWatch a clip of Jonathan Antoine, who is tipped for success on BGT.
