The sale of former outdoor learning centre Holt Hall is on the brink of being sealed, but the amount of money changing hands remains shrouded in secrecy.
Norfolk County Council announced in November that it was ready to sell the Grade II-listed Victorian property to Gresham's School.
And Greg Peck, the Conservative-controlled council's cabinet member for commercial services and asset management, has now used his powers to approve the sale.
The sale to the Holt-based school will go through in the near future, but the council says the price has to remain confidential until the process is complete.
Council documents state the sale will mean a "significant capital receipt" for the council's coffers "which will be applied to the capital programme to help meet the council’s priorities".
Mr Peck said: "The sale to a local educational establishment and major employer in north Norfolk will help create local jobs and bring benefits to the local economy and community.
"This was the best bid on the table and secures market value for the site and I look forward to the sale being completed shortly."
Over 70 years, generations of schoolchildren have used Holt Hall and its 86 acres of land for outdoor learning and residential trips.
But the council decided to sell it, saying the site was running at a £270,000 loss and needed £600,000 in maintenance to continue operating.
That sparked controversy, with campaign group the Friends of Holt Hall and opposition councillors leading calls for it to continue in community use.
The council had reached an agreement last year to sell it to a mystery buyer.
But the council then pulled out of the deal, because, even though legal contracts were finalised, the buyer was not in a position to proceed.
The hall went back on the market, enabling Gresham's to move into pole position.
Gresham's headmaster Douglas Robb, said, in November, that the day and boarding school would use Holt Hall to "further develop our educational facilities, benefitting both our pupils and the wider community."
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