Colchester's bus station could have stayed at its present site in a new shopping centre.
Swap deal - the Kwik Fit building in Osborne Street.
The plan by developers is set out in documents just made public following a Freedom of Information Act request by the Evening Gazette.
Documents and reports of formal council meetings and discussions held in private chart the events leading up to a property deal between the council and property developer CFK.
CFK wanted to redevelop the bus station site, but the Queen Street retail scheme would have effectively blocked the council's plans for an art gallery there, and the St Botolph's regeneration.
Colchester Council handed over £2.7million and the Kwikfit site in Osborne Street to developers CFK in exchange for Roman House and St James House.
John Jowers, leader of Colchester Council, speaking about the council's report to the Audit Commission, said: "These decisions were good, sound, well researched decisions. These were very well thought out deals."
He added that the property deals had worked out very well for the council, allowing it to press for regenerating the St Botolph's quarter.
The Audit Commission is currently investigating the deal, and is due to publish its findings shortly.
Until the findings are formally published, Colchester Council is unable to comment publicly on the Audit Commission's findings.
More in today's Evening Gazette
Published Tuesday, February 8, 2005
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