Residents of a Mid Wales town are being urged to have their say on where they want millions of pounds raised by the sale of land to Tesco to be spent.

Powys County Council sold the former Smithfield cattle market in Pool Road, Newtown, to the supermarket giant for a new store, which is set to create up to 340 jobs.

The sale amount has not been disclosed, but is believed to run into millions and councillors in the town feel it should be left in a separate pot from that used for other areas.

Now the town’s five county council members are planning to hold a public meeting next month to discuss where the cash should be spent – despite the council already saying not all of it will be ploughed back into Newtown.

Councillor Russell George, who is behind the meeting along with Councillors Peter Harris, Bob Mills, Richard White and Frank Torrens, said: “We want to find out where the public want to see the money from the sale of the old Smithfield site spent.

“We want to make sure the money will be put to good use in Newtown. A date for the meeting hasn’t yet been confirmed but it will take place in April.”

Councillor White said: “I would like to say to the council ‘do not spend the money you got for the sale of the Smithfield land to Tesco without consulting Newtown Town Council’.”

But John Evans, council communications manager, said: “The money raised from the sale of land to Tesco in Newtown won’t all go back into the town.

“When we engage in a sale such as this, a portion of the money goes to the same service which we sold from and the rest then goes into the pot for capital spends.”