
A TOWN centre site has now been officially earmarked for the World of Rugby tourist attraction - after more than ten years of talking.
The row of banks and shops opposite the Clock Towers North Street entrance is the preferred location for the £19 million centre, a feasibility study has concluded.
And in a further boost a market appraisal has found developers may be willing to pay for the ambitious plan - which would leave the borough and county councils without the potential headache of having to find millions to finally get it off the ground.
Businesses and investors are understood to be keen on putting money into the development now the ambitious plans include housing, shops, a gymnasium and a new multi-storey car park.
Commercial property adviser CB Richard Ellis Ltd (CBRE) is now set to be tasked with finding a developer for the project by the end of the year.
Rugby First managing director Robin Richter said he was encouraged by the progress being made with the current proposal.
"We've had two or three goes at this now and this seems to stand a much greater chance because it is based totally on realism," he added.
"The important thing is that this is an attraction not a museum. In the end it is a major development that is as much about retail, housing and car parking."
Council bosses are hoping the attraction will put the town on the map with tourists, with research suggesting it should draw in 70,000 visitors per year.
The project has been in the pipeline since 1996 and it is estimated it could help create 200 jobs.
Previous proposals have failed to take off because they were not considered practical and lacked funding.
But the current plan for a town centre attraction has looked much more likely to materialise since been given the green light by specialist consultants last August.
Together with the pedestrianisation scheme, set to be discussed by Stagecoach, councillors and businesses this afternoon (Thursday), it could complete a radical transformation of North Street.
However, even if a developer is secured this year, the Observer understands that 2013 would be the earliest realistic opening date, meaning the attraction would not arrive in time to help the town capitalise on the 2012 London Olympics as had originally been hoped.
It is expected that county councillors will give CBRE the go-ahead to seek out a developer at the town hall meeting tonight (Thursday).