The former Esslemont and Macintosh department store on Union Street is to be sold at auction after no buyer emerged on the open market.
The upper floors of 26-38 Union Street have been given a guide price of £250,000 at auction on March 27.
A spokesperson from Acuitus, who is marketing the property, has suggested the commercial unit be redeveloped as student accommodation, a hotel or residential homes.
Parts of the ground floor of the building are home to Miller & Carter, The Esslemont Bar and Restaurant, and Mac's Pizzaria.
The building, which is best remembered as the former department store, offers nearly 40,000ft of floor space and is described as being in a "mixed state of repair".
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