A 200-year-old listed landmark could be brought back into use after the council came to an agreement with the leaseholder Nationwide.

Number 1 Newport Street is in need of tens of thousands of pounds worth of work at a site which is a stone's throw from the town hall.

The Grade-II listed landmark is from the reign of George IV, according to Historic England, and it has had a number of uses including a library and a museum. The leaseholder Nationwide has let the building for more than 50 years but it has let the building to others over the years including the bookmaker whose branding is there to this day.

It could be brought back into the use after the council came to an agreement on a lease surrender subject to the approval of the cabinet at a meeting at the town hall next week.

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A report said: "Negotiations have been taking place with Nationwide and the Council working with Colliers. An agreement is in place with an amount agreed between the partners and taking into consideration the remaining lease payments to the Council."

Number 1 Newport Street is in need of tens of thousands of pounds worth of work at the site including the roof, walls and windows.

(Image: Newsquest)

Nationwide's "surrender premium" is to cover the cost for the council but the actual amount of this "surrender premium" is not public.

There is no new tenant at this time but according to a report the intention is for the new tenant to be a "food and beverage operator".

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A report said: "The council will engage with operators who expressed an interest in the past as well as any other operators who may be suitable. Although no timescale can be given the Council is confident a new tenant can be secured in a timely manner."

Number 1 Newport Street is next to Crompton Place Shopping Centre where an application for planning permission for a redevelopment is anticipated before the end of the year.

The lease surrender is subject to the approval of the cabinet at a meeting at the town hall on Monday (September 30).

This article was written by Jack Tooth. To contact him, email jack.tooth@newsquest.co.uk or follow @JTRTooth on Twitter.