In the latest moves to enhance the commercial centre of the town, two prominent sites at The Square could be set to be completely revamped.
The former Woodsides supermarket building has recently been sold off and nearby Square Bar demolished pending possible redevelopment.
Proprietor of Woodsides, Mr Niall McConkey, confirmed this week that the sale of the company's old premises at The Square has been completed.
The Times understands that the property was sold to a developer who subsequently sold it on to a prominent Ballyclare businessman.
It is believed that the building could be demolished to make way for a number of new retail and office units.
Councillor Vera McWilliam, Chair of Newtownabbey Town Centre Management Company, welcomed the potential redevelopment of the former Woodsides site.
"It would be excellent to see whoever has bought the building contributing to the further regeneration of the town centre by redeveloping the site with new commercial units," she told the Times.
Meanwhile, the old Square Bar, which was demolished in recent weeks, could also be set to be redeveloped.
The property is owned by Woodsides, but Mr McConkey says that plans for the site haven't yet been finalised.
"We are looking at three or four options for the site at the minute and weighing them up. New retail units is certainly one option, but nothing has been decided yet," he told the Times.
Other major projects being planned for the town include a new Asda supermarket development on the former McClelland's Mart site and a possible multi-million pound project by a business consortium to demolish a run down area at the bottom of the Main Street and build new shops, housing and office units.