An up-for-sale County Durham shopping centre was withdrawn from auction on the day it was set to go under the hammer.
Castle Dene Shopping Centre in Peterlee had been scheduled for auction on Wednesday, February 11, but was pulled from the sale as talks continue with prospective buyers.
The centre, which includes tenants such as Iceland, B&M Retail, Boots, New Look and Argos, was listed with a guide price starting at £4 million.
Jonathan Wright, auctioneer at Allsop, told The Northern Echo: "It was withdrawn as we continue to speak with a number of interested parties."
The property spans approximately 234,687 square feet and includes 779 parking spaces.
It currently generates more than £1.2 million in gross annual income, with additional potential from letting out vacant units.
Speaking in January, Mr Wright acknowledged that concerns had been raised about the impact of a possible sale, given the centre’s prominence in the town.
He said: "I think to close it and knock it down would be easier said than done.
"It is an investment.
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"It offers a chance to add income to it.
"I don't think someone would come in and knock it down."
Mr Wright, who has worked with Allsop since 2008, said that although secondary shopping centres like Castle Dene are not frequently sold, interest in this property was high.
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