By Matt Bowling: Stoke City Council is pumping more than £5 million into the former Spode Works site to stop private developers buying it.

The 18th century site is to under-go a massive re-development as part of a multi-million pound regeneration project paid for by the city council.

The council approved proposals to fight off private investment and buy the land at a secret council meeting on Wednesday night.

Plans are rumoured to include converting the buildings into luxury apartments, business space and opening a Potteries museum.

The nine-acre site on Church Street, Stoke, has remained empty since November 2008, and is valued at £3.75m according to administrators.

But the site is expected to cost up to £5.7m after construction, stamp duty and ground investigation reports.

Stoke City Council has insisted that a price has been agreed and that legal proceedings for the purchase will be underway very shortly.

Head of Regeneration Cllr Brian Ward has said that he hopes the first bricks will be laid by Autumn 2011.

Cllr Ward told StaffsLive: “The Spode family has given its backing to our bid.

“Our motivation for the project is very much in the interests of saving the area from more deprivation.”

Cllr Ward also called a rival offer by private contractors Mill Properties Limited an “empty bid”.

Mills Properties Limited was unable to comment on the status of its bid, but previous reports have speculated that the company was prepared to pay up to £12 million for the site.

Cllr Ward said he couldn’t guarantee the council would not pay more than £5.7m predicted, but that any over-spending would be scrutinized.