The owners of Trinity House in Axminster have entered negotiations to sell the town centre store.
Axminster Property is representing the potential buyer.
A spokesperson for the property management and investment company said: “I can confirm that negotiations have been entered into with the current owners of Trinity House on behalf of one of our clients.
“Should this be successful, the plans for the building would ensure a valued and exciting addition to the town, eliminating the risk that it will be left empty.”
The spokesperson added: “We are dedicated to making this happen but also to the continued economic growth of the town and surrounding Axe Valley by creating opportunities, not just for our clients but for local businesses, employees and the community as a whole.”
Axminster Property was formed by local businessman Ian Styles, who is also a shareholder in Axminster Tool Centre. This has led some people in Axminster to incorrectly believe it is the tool centre bidding for the site.
The property company manages and maintains a portfolio of commercial properties in the wider Axminster area. It also sources investments.
Recent investments have included the former Grove nightclub in Seaton, Le Pisani, Seaton, Tick Tocks day nursery in Axminster, and much of Millwey Industrial Estate.
If negotiations are successful, it will signal a new era of optimism for Axminster town centre. Other businesses in the high street have expressed concern over the potential for a large empty building.
At the same time, they are trying to encourage more people to shop in Axminster and recently unveiled the well-received Totally Locally Axminster campaign.
Axminster Property says its team is always on the look out for new investment opportunities. The company can be reached by emailing firstname.lastname@example.org