The lower part of the former hotel on Aytoun Street in Manchester city centre is up for sale next week at the Pugh & Co auction at a guide price of £350,000.
The 31,495 sq ft vacant property comprises the lower ground and upper basement premises of the former Grand Hotel in Piccadilly. The upper floors were converted into apartments several years ago.
The two available floors are in shell condition with planning consent for restaurant and café but could be suitable for hotel, hostel or casino subject to planning.
James Ashworth, director of Pugh & Co, said: "The Grand is an exciting opportunity of a type that hasn't been seen in the auction room for some time. It's unusual for such a city centre site to be offered and with a guide price of £350,000 to £375,000, we expect interest from developers and investors with the vision to realise the site's obvious potential.
"Pugh & Co auctions at Old Trafford are always popular; there are 100 lots in the next auction and normally several hundred people attend, so we look forward to competitive bidding on the day.
"The entire auction catalogue covers four venues across the North (Manchester, Liverpool, Leeds and Newcastle) and features a mix of properties on both the commercial and the residential side."
Pugh & Co is now in the process of compiling the catalogue for its next wave of auctions in July. The closing date is Wednesday 13 June.
The next auction is due to take place at Manchester United FC on Thursday 31 May.