A preferred purchaser has been identified to buy the land at Canal Park/Old Market Place for potential retail use.
Due to a large portion of the site being designated as 'common good land', part of the procedure for the proposed sale requires Aberdeenshire Council to consult with the community and invite views for consideration by the authority.
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The consultation will take place early in 2020, with further details to be provided in due course. For the sale to be approved, permission would then need to be sought from Banff Sherriff Court.
In the meantime, initial site investigations are due to begin next week, with engineers due to take soil samples. All service users have been advised and alternative venues have been identified.
Banff & Buchan Area Manager Angela Keith said: "It's important to stress that the upcoming site investigations are not the start of any building works on site.
"We need to gather the public's views on the potential sale of the land before any final decisions are made, and we will be sharing information on how people can get involved at the start of the year."
(CM/JG)
