A slice of St Andrews history has failed to gather any significant bites at auction.
The Masonic Hotel went to auction on Thursday but was handed in when it failed to reach the reserve.
Co-owner Jan Morris said the bids were well off reserve.
"Honestly I don't think it will sell unless someone comes in and falls in love with it; it's too good to let go or undervalue it," he said.
Mr Morris and his partner Margaret Robson bought the pub in 2008 and spent 18 months renovating it.
The original Masonic Hotel was established in 1876.
It was gutted by a suspicious fire in 1936. In 1937, the new owner rebuilt the hotel into the popular art deco style seen today.
Extensive renovations were carried out between 1964 and 1975 before the doors closed in 2007 for the first time in 70 years.
The hotel stands on a 3036 sqm site, has a floor area of 570sqm and a rateable value of $500,000.
- The Timaru Herald