Exeter City Council voted in June to close the sports centre permanently after heavy snowfall in March caused a major leak in the roof.
Now the council's set to sell off the site, including the Golf Driving Range, Ski Slope and the Rifle Range, for a mixed residential housing development.
The money raised will go towards refurbishing other leisure sites across the city as well as paying for the repairs to the Riverside Swimming Pool and Leisure Centre.
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