No buyers have yet been found for Cockermouth's former youth hostel.
Three bids were submitted following a deadline being issued for sealed bids. They were all considered too low by the town council, which owns the riverside building off Fern Bank.
Offers in excess of £200,000 were invited for the Grade II listed, three-storey mill building, which is on the market with Carigiet Cowen.
It was advertised as being suitable for a range of uses (subject to planning).
Council clerk Sheila brown said: "The bids were rejected by councillors because they were too low.
"We will readvertise it as it stands and also explore a change of use to residential."
Double Mills Youth Hostel was leased by the Youth Hostel Association (YHA) for more than 80 years. The YHA decided to end its lease last November due to low occupancy rates.
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