The owner of Tricorn House has agreed to put it up for sale on the open market.
The news follows a meeting between Siobhan Baillie MP, the present owner John Wellfair andchief executive Kathy O’Leary.
Ms Baillie has cautiously welcomed the news.
“I have long called for the development of Tricorn House.
“So many people ask me about that building, including school children and constituents who live miles away from Stroud. I know that people want to see action and many have tried to make that happen.”
The property is in private ownership and the derelict eyesore will be marketed through Gloucestershire estate agents Alder King Limited.
The council has however indicated that it would continue to consider all options concerning the building and would make sure any prospective purchasers have information about existing planning applications to help.
Following the tragic death of North Vernon-White, 15, who suffered fatal injuries after falling off the roof of the centre in June it has become even more pressing to see changes to the building.
At the time of the tragedy the council stepped up to ensure security was added but local people are understandably keen to see it demolished or redeveloped.
Siobhan Baillie said: “Our communities have been waiting 20 years to see changes to the site. I know there is a chequered history of stops, starts and periods of complete inactivity when it comes to developing the building so I take nothing for grantedm
“I will not rest until there is actual change, whether that is demolition or a transformational redevelopment but I think people should be kept informed.
“The council’s chief executive and I have impressed upon the owner the seriousness of this issue for our local area, particularly due to the devastating loss of young life at the site.
“We have also pushed the need for transparency and information being shared with the community. He confirmed he understood. Time will tell.
“We will now wait and see if a buyer comes forward whether that is the council or someone else.”