The historic building was due under the hammer later today.
The Chesterfield Hotel has been removed from auction, so an interested party can have more details discussions over the future of the site.
A 'special purchaser' has made an offer, and the site will not be auctioned today for further talks to be held.
A spokesman from the auctioneers 'Lambert Smith and Hampton' said; "It has been taken offline for further discussions with interested parties".
Should a deal not be reached, it will be relisted in around two weeks time.
The building, which has stood in the town since the Victorian era, has been the subject of much speculation since it's closure.