CHIPPENHAM NEWS: CASH made from the sale of the Goldiggers building in Chippenham will be used to provide facilities for the community.
Tribecka Land Ltd's contract to take over and redevelop the site in Timber Street has been handed over to the building's owners, North Wiltshire District Council.
Once the deal goes through the local authority is planning to use some of the money raised from the sale to revamp other buildings and provide leisure and community facilities elsewhere in the town.
Extra money for the area surrounding Goldiggers could be provided by Barratt Homes which is building 170 homes and apartments on the nearby Flowers Yard site.
Town and district councillor Ross Henning predicted the appearance of the area around Timber Street would improve once more people started moving in.
He said: "The district council has agreed some of the capital receipts will be used to help finance leisure and youth facilities elsewhere in the town.
"I am pleased everything seems to be moving forward because it needs to be sorted.
"We don't want to go through all the nonsense of finding a new bidder again."
Cllr Henning has already put forward a proposal to form a visionary plan for Chippenham to drag it into the 21st century.
He is calling for the town, district and county council to come together to identify current and future sites of development, including the Western Arches and the town's riverside, in a bid to stem the flow of housing developments.
"If only somebody had thought about it five years ago because this could have meant the redevelopment of Goldiggers could have taken in sites such as the library," said Cllr Henning.
Town council leader Sandie Webb said she would support any revolutionary ideas, particularly if they include the area around Timber Street. She was unhappy with the bidder chosen for the Goldiggers site, demanding a more community-based or retail project instead.
"It would be fabulous if money was used for the area. Everyone would then understand why Goldiggers was sold in the way it was," she said.
Bosses at developer Tribecka Land, who are bidding to build a mix of shops and homes on the site, are confident building work will start before the end of the year.
Director Neil Turvey said: "We are very pleased to get to this point as we as a company have been interested in the site for a number of years.
"We are confident about meeting the deadlines agreed. It will be a big asset to Chippenham."
The firm must submit its planning application for the site by May 28 and have planning permission granted by September 2. If the bid fails an alternative option could be considered.
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