Northampton Borough Council is set to buy part of the town’s former gas holder site for £1.5 million in a bid to entice business into the town.
Councillors at the Guildhall have agreed to purchase a five acre area of land at the junction of Towcester Road and St Peter’s Way in the Enterprise Zone.
The plans were discussed and agreed by the council’s Cabinet on Wednesday September 10.
The land was cleared last year following a lengthy demolition of the former gas holder, which began in 2013.
Leader of the authority, Councillor Mary Markham, (Con, Park) said: “This is a key site at the gateway to our Enterprise Zone and a prime location for redevelopment.
“The Government has described our Enterprise Zone as being the best performing in the country.
“We are committed to building on our success by creating more opportunities for investment and welcoming to organisations looking to be based within a thriving business community. And this development will breathe new life into a new Enterprise Zone site.”