A second tendering round for the 125-year-old former BNZ building and two adjoining premises in Princes St in Dunedin prompted the lodgement of five tenders yesterday.
Six tenders for the buildings, all from Otago and Southland interests, were rejected in late May and the buildings were put out to tender again.
Tenders closed at 4pm yesterday.
Mike Elford, of Edinburgh Realty, said, when contacted yesterday, the unopened tenders would be sent to first-mortgage-holder Crown Money Corporation Ltd, of Auckland, for consideration, with a decision due during the month.
The BNZ building is on a 978sq m site on two titles and has a capital value of $1.5 million, a price for which it is understood to have sold several times.
Embattled Hanover Finance is the second-mortgage-holder over the building and had called in a loan against Auckland developer Mike McGurk, prompting the first tender round.
Mr McGurk said earlier in the year he planned to refinance the project and continue with plans for his up to $10 million BNZ hotel development.
However, the second tender round is on behalf of first-mortgage-holder Crown Money Corp, which would have first call on any funds realised, with any remaining funds going to Hanover Finance. Also in the Exchange area, but separately, due diligence is still under way by two New Zealand developers on purchasing the 1930s former chief post office.
South Canterbury Finance is selling the empty nine-storey building to recoup a more than $7.5 million debt from failed hotel developer and bankrupt Dan McEwan, of the McEwan Group.
A decision by South Canterbury is due next month.
