Bradken's Dunedin site will probably be divided.
The company owns and occupies 0.5ha, which is under five separate titles, near the Dunedin Railway Station.
The sections went on the market last month, but no-one has shown interest in buying the lot. A deadline treaty closed this week.
Colliers International agent Dean Collins said there was some ''pretty good'' interest in the individual sections.
Most interest was shown by people keen to own and occupy the various properties, he said.
Bradken would also consider lease offers.
''None of the properties have sold yet, but we have interested parties in the various properties and are just working through that with them,'' Mr Collins said.
He expected negotiations to take a couple of weeks.
''We'll hopefully have some outcomes shortly.''
As of 2010, the five sections have a collective capital value of $1.77 million, made up of land value $909,000 and improvements worth $861,000. The total annual rates bill is $21,375.
Bradken agreed to lease KiwiRail's Hillside foundry late last year and will move its operations to the South Dunedin site.
