A revamped Shire Hall and museum could become a magnet drawing families from as far as Bristol and Gloucester to Monmouth, local leaders say.
The 301 year old grade I listed structure, which witnessed the trial of the Newport Chartist leaders in 1840, is set for a £2.8m transformation following confirmation of a £1.5 million National Lottery Heritage Fund grant this week.
Guests will have the opportunity to explore the historic courtroom where John Frost, Zephaniah Williams and William Jones faced conviction for high treason, alongside the cells where they were detained. There are also displays featuring naval Admiral Lord Nelson.
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This latest phase of renovation aims to establish new galleries, educational and community areas whilst making the entrance foyer "more welcoming" as part of the overhaul of the 1724 building, recognised for its national significance.
Paul Griffiths, Monmouthshire council's deputy leader, suggested the renovation - which involves moving the museum into the transformed Shire Hall - could increase town centre visitor numbers.
He explained: "The challenge for all our town centres is to create ever more reasons for people to be in the town centre. The days have gone when one goes to town purely to shop (have gone)... one goes out for a range of reasons and very often shopping is coincidental to that. For our businesses to thrive we've got to find those other reasons to bring people into town.
"This project will create a truly exciting visitor experience that will encourage local people to come to town, and as importantly, my ambition is for families in Gloucester and Bristol to think, 'what can we do with the kids on a Saturday afternoon? We can go to Monmouth there's an excellent museum there'."
Cllr Sara Burch, the responsible cabinet member, revealed the council has obtained £228,850 from the Welsh Government plus a £30,000 grant from the Wolfson Foundation.
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The Labour-controlled cabinet has authorised an additional £300,000 in capital investment for the scheme, with Cllr Burch expressing confidence the authority can "close the gap" on the remaining £500,000 shortfall.
A part-time fundraising position will be established as part of the initiative.
The Monmouth Museum's collection, transferring from the Market Hall, features extensive Nelson artefacts including his naval sword, weapons from defeated Spanish and French commanders at Trafalgar, and correspondence between him and Lady Hamilton. Lady Llangattock, mother of Rolls-Royce co-founder Charles Stuart Rolls, donated the collection to the town in 1923.
Monmouth Town Council will remain based in the hall whilst the retail and visitor information facilities will be enlarged. Listed building consent has been obtained for the development work.