The Institute has been empty for 40 years
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A meeting is due to take place on Friday that may decide the future of one of Swindon's most historic buildings.
The derelict Mechanics Institute, once a landmark Great Western Railway building housing a dance hall, theatre and a library, was bought by an anonymous developer in February.
Campaigners fighting to save the building are worried it could be turned into housing, after failing to save the building from being sold.
A meeting between the developer - who has remained anonymous - and Swindon council is due to take place on Friday and may shed some light on future plans.
Bill Jeffries, an ex-GWR employee, told the BBC: "It was a magnificent building in its day.
"It could be a social amenity to the whole of the town - the space is there. The only drawback is that there is no car park."
The Institute was built for workers on the Great Western Railway in the 1850s and when the railway works closed, the listed building was shut, and gradually fell into disrepair.