The decision about the North Street site follows last month's submission of formal bids from three shortlisted developers - Lend Lease, Land Securities and Queensberry Real Estate.
The Council's Executive will consider the evaluation panel's recommendation by on 18 April.
"We received high quality, detailed bids from the shortlisted developers,” said Councillor James Palmer, lead councillor for town centre planning and transport. “All three demonstrate an innovative approach to the future of this key town centre site. We are particularly impressed by the enthusiasm and understanding for this project shown by Lend Lease.”
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