Last January, plans were unveiled for the ''Silo project'' on land opposite Wakatipu High School in Gorge Rd.
The precinct was to include a building with a double-storey road frontage and three storeys to the rear of the 5119sq m site, along with extensive parking for hospitality, retail, industrial and office activities, and a shared parking area.
However, realtor and development manager Buzz Scown said his client died last year, forcing the property - bought from Carters about six years ago - on the market.
The site, tenanted on short-term leases, was marketed nationally and two tenders had been received by the closing date in November.
One of those was an ''Australian group that was pretty serious''. However, neither it or the other tenderer were prepared to pay the asking price of just over $4 million.
''We're just carrying on to market it,'' Mr Scown said.
''It's a price thing. We had some strong interest, but it's just ... to get the numbers right.''
Would-be buyers could continue leasing the property, renovate the property to appeal to a wider range of potential tenants,
use the existing consent for the Silo development or develop worker accommodation.
