EBBW Vale’s Festival Park shopping centre could be sold to new owners in the coming weeks, the asset managers of the site have said.
Metis Real Estate says that the terms of a sale have been agreed upon for the retail site, which hosted the final UK Garden Festival in 1992.
Blaenau Gwent council previously considered trying to buy the site to secure its future, but since abandoned the plan.
Paul Jones, of asset managers Metis Real Estate, said he is hopeful of a sale being completed in the coming weeks.
“We are in the process of selling the site,” Mr Jones said.
“We are progressing with a buyer and have been for a while because things understandably take longer due to the current situation.
“But hopefully in the next few weeks, there will be a successful sale.”
Mr Jones said “a new owner looking to invest” will be taking on the site and that he hoped it would be “a new start” for the shopping centre.
“It would be a good thing for everybody down there if the site can be brought back into economic use,” he said.