The clocktower, which stands in the centre of the town and dates from 1839, was declared surplus to operational requirements in 2005. It continued to serve as a tourist information centre until 2014.

Following a meeting of the local authority’s policy and resources committee, council officers from the community asset transfer team are to begin discussions over the possible transfer of the clocktower to the community.

The council stated in the event of there being no substantive proposals coming forward in the next year, a report will be brought back to the committee for further consideration.

John Cowe, who chairs the authority’s economic development committee, suggested the council offer the landmark up for just £1 to prospective bidders.

The cut-price deal is dependent on the buyer being able to prove that they can operate it for years to come.

Mr Cowe said: “Taking over the clock tower could be a great project for the community of Dufftown.

“I wonder if there could be an opportunity for local groups there to purchase it for a pound.

“That could be an easier option which spares everyone involved an unnecessary amount of work.”