The building on The Moor attracted ‘loads’ of interest, according to a spokesman for Allsop auctioneers.
But buyers who logged on for the online sale on Thursday, May 12 found the lot was unavailable.
The spokesman added: “It was withdrawn because some of the buyers couldn’t get their act together in time.”
It is now likely to sell off-auction within the next week, he added.
The intense interest appears to demonstrate the incredible value of ‘pre-app advice’ from Sheffield City Council.
The advice is not planning permission.
Planners had told MHA they ‘broadly’ welcome demolition to make way for two blocks of flats 22 and 34 storeys high.
The company bought the building for £1.5m in March last year. It was due to go under the hammer with a guide price of £4.5m – £5m.