A vendor's bid of $750,000 failed to spark interest from buyers at the auction of the former Target site in Young's Boorowa Street last Thursday.
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Auctioneer John R Barton lodged the $750,000 bid on behalf of the vendor, Singalong Investments.
He notified prior to the commencement of the auction that he would be making one vendor bid during the auction.
Despite the building not selling Mr Barton said he remained confident he would find a buyer for the site.
Mr Barton said five inspections of the site had taken place in the past month.
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"Two clients have emailed me in the last 36 hours, one would you believe is in France and a well known professional person in this town who will not be back until next week has made a preliminary offer, unacceptable, but is still in the market," Mr Barton said.
"Another sent me an email and he is still in the market when he comes back.
"I'd like to also stress I have spoken to the vendor and he is not worried about this property because if we don't sell it here this morning we will sell it later, it will be available," Mr Barton said during the auction.
Mr Barton thanked the long standing vendor Mark Long, a resident of Sydney.
"I had the pleasure of selling this site to Mark in 2002," he said.
Mr Barton has a had a long association with the site, selling it on a number of occasions.
"I can say I have had a great lot of satisfaction and a lot of loyal clients who have stuck with me and my wife," he said on Thursday.
"Today is an opportunity for someone to occupy this building and expand their business or possibly subdivide it.
"As you'd all know this shopping centre is a very vital one, whilst this building is vacant, it is the lifeblood of this block.
"We're a fast growing regional town, people come to Young because of our vibrant shopping and other services on offer.
"This is the first time this iconic property has been available, vacant, since 1942," he said.
Mr Barton said he will now deal privately with any interested parties.
