TAXPAYERS' money could be used to build a hotel on the site of Taunton's former cattle market.

Taunton Deane Borough Council has confirmed it has held talks into borrowing the cash to construct a "high qualilty, mid-market hotel" with up to 120 rooms at Firepool.

Work could start on the premises as early as next year, although the full timeline for the development remains confidential.

A report reveals the authority would remain the owner of the premises, which it would lease out.

It says there is "strong interest from potential occupiers and operators".

The hotel would be built adjacent to Priory Bridge Road in place of the remaining buildings on the site, which closed as a market ten years ago.

The announcement, in a report to next Thursday's corporate scrutiny committee, follows Deane planners' decision to grant outline planning permission on Firepool for shops, homes, offices, leisure facilities, pubs and restaurants and potentially a cinema.

Details of the financial evaluation of the scheme and the council's preferred brand and operator remain confidential.

The report to corporate scrutiny says: "The proposal is consistent with the recently approved outline planning consent for Firepool.

"It also aligns well with the vision for Taunton as a garden town, contributes to a thriving and sustainable town centre and generates a healthy commercial return to the council."

If the hotel gets the go-ahead, the council would retain the building and lease it through a newly created trading company called a special purpose vehicle, owned by the Deane.

The hotel business would then be managed by a professional operating company to ensure hotel brand compliance, "maximising efficiencies and returns for the council and limiting potential liabilities". Staff would also be engaged through the operating company.

The report to councillors says: "A well-recognised brand of hotel will improve the range and quality of mid-market accommodation in the town centre, encourage more businesses and visitors into the heart of the town and boost the wider daytime and evening economy."

It adds: "A new hotel with suitable franchise and management agreements can provide an attractive investment for council, who could secure economic, regeneration and create an attractive income generating investment which could finance and repay any funding or borrowing for the scheme."