High Peak Borough Council has announced that Buxton's Market Street car park is up for sale for potential residential development.
The two-acre site - which currently has 86 car parking spaces - is being marketed for sale, with the possibility of building houses on the land.
The proposed sale will enable redevelopment of the area to take place, the council says, but any prospective purchaser will now need to detail their proposals as part of the bidding process.
Council Leader, Councillor Anthony Mckeown, said: “The sale of this land will enable the much needed regeneration and redevelopment of this area to take place as set out in the Local Plan.
“However, we understand that this is an important site and that any redevelopment must be suitable for the area which is why any prospective purchaser must detail their plans for the site.
“Once we have some potential schemes we will be able to seek the views of the action group and others before making a final decision.”
The council has said that the site for sale does include the existing car park to "allow potential buyers to maximise this opportunity to offer the best quality development and improve the layout within the available space".
Councillor Mckeown added: “I want to reassure everyone that this does not mean the loss of the existing car parking. We will require the existing car parking spaces to be replaced on the site as part of the development process in addition to any requirements of the development itself.
“Until we have a developer in place, we won’t know exactly where it will go or how long the work will take. However, we will work with them to minimise disruption and keep the length of time that car parking is not available as short as possible.”