Argyll and Bute councillors will discuss the bids received for Castle Toward on the Cowal peninsula next week.

An announcement will be made following the Executive meeting on Thursday regarding the acceptance of one of the bids as the ‘preferred option’, based on a thorough assessment of the offers received.

The development will be a key step in the council’s efforts to secure the best possible outcome of the sale, both for local residents and Argyll and Bute as a whole.

Council leader, Councillor Dick Walsh, said: “Each offer we received has been subjected to an objective appraisal process, designed to ensure that the bidder selected as the preferred option is the one which will bring the widest benefits to the area.

“I look forward to discussing the outcome of those appraisals next week, and will be in a position to announce what the preferred option is following that meeting.”

The criteria for the appraisal of each offer is:

• Economic development to the local area
• Sum being offered to the council
• Planning considerations
• Legal considerations

Councillor Walsh stressed that the economic development potential of each bid has been given additional weight over the other factors.

“The capacity of each option to contribute to the economic development potential of the local area is considered of paramount importance,” he said.

“This reflects both the council and the Scottish Government’s prioritisation of sustainable economic growth, and the potential of the site for creating employment and investment for Dunoon and the Cowal peninsula, as well as the wider economy.”

Castle Toward was marketed for sale for offers over £2.25million. The council received four offers by the closing date.

The Executive will discuss the matter when it meets on Thursday, November 3. The item will be debated in private in order to preserve commercial confidentiality.