The former NatWest Bank in the heart of Ottery has been bought by the town council in a shock move last week.
Civic leaders revealed they held an extraordinary meeting to decide on the proposed purchase of the ‘iconic’ building that was up for auction on Wednesday.
The Silver Street premises are now earmarked as a suitable site for the library – being in a central location, with disabled access.
Deputy mayor Ian Holmes bid on the commercial property and said he was up against three others – two of whom had planned to turn it into a restaurant or bistro – but the council managed to secure it for £139,500.
Mayor Glyn Dobson said: “I am absolutely delighted that the council has purchased this iconic building.
“It will give us the opportunity to provide much-needed public toilets in a central location and the ability, subject to negotiation, to provide a modern library.”
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