COLCHESTER Council is snapping up part of St Botolph’s to boost its regeneration.
The council is in talks to buy the First Bus Depot, on St Botolph’s Street.
It wants to market the site together with the former Keddies department store and part of the former bus station to lure in a developer.
Anne Turrell, leader of Colchester Council, said it could create 250 jobs for Colchester.
She said: “I’m so pleased we’re doing this.
“We’ve been talking with developers since earlier this year about what to do there.
“Life is full of risks and if we didn’t take any at all then the council wouldn’t be where it is now with the Weston Homes Community Stadium and Firstsite.
“It’s much better for a council to be forward thinking to improve that site rather than let it stagnate.”
Under the plans, First buses would move its depot to a new council-owned site in the Hythe on Haven Road, keeping it in the town.
It is hoped together the St Botolph's and Queen Street site will be turned into new homes and commercial properties.
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