The authority launched the tender in November last year for a private partner to regenerate and develop a Creative Quarter based around the creative, cultural and digital industries in Leamington Spa town centre.
However, the council only received one bid for the project – from Complex Development Projects – and it has now decided to appoint that team as the preferred bidder on the deal.
Complex Development Projects is a private developer that works in partnership with governments, community groups and charities to deliver urban renewal projects.
It will now work with the authority towards signing the contract and developing its vision for Leamington Spa.