Agents for the derelict Peter Black site in Trowbridge are negotiating with a developer who wants to buy it, Wiltshire Council has announced.
Officers from the council recently met the agents, Jones Lang Lasalle, and have now confirmed they are negotiating with a developer and that the interested party is keen to move quickly.
The as-yet-un-named developer has already discussed options with Wessex Water regarding sewerage pipes running under the site.
They have also made progress on a number of surveys, including contamination.
Trowbridge Area Board heard on Thursday that further preparatory work is planned, including a retail impact assessment, ecological studies and flood risk.
A statement from Tim Maritenssen, head of service, economic development and planning at Wiltshire Council, said: “They (the developer) intend to go down a pre-application route and are hoping to submit detailed planning in the near future.
“The developer had been advised by officers that public consultation should follow a similar format as for St Stephen’s Place including early talks with Transforming Trowbridge, Trowbridge Area Board, the ward member and town council.
“At this stage, the potential final occupiers have not been confirmed and all names are commercially confidential.”
The former factory has been empty for years. A recent bid by Wiltshire Council to buy the land was rejected after it was judged not high enough.