East Herts District Council have surendered their 127 year lease on Hertford Bus Station and the car park at Birtcherley Green, amid fears that Waitrose could close it's town centre store.
The Centre's owner, the Diageo Pension Fund, is keen to redevelop the site to allow Waitrose to expand and provide an enlarged pay-on-exit car park with travelator.
The car park brought in £100,000 annually for the council but £50,000 was needed to refurbish the lifts.
The Centre is around 30 years old and needs upgrading and remodelling in order to keep existing key tenants and encourage other retailers to move in.
The future of the bus station is uncertain.