THE future of the Catholic Club Yoogali (CCY) remains in the balance after the multi-purpose facility was passed in at auction on Wednesday.
About 60 people turned out to watch, but less than 10 bids were made between the eight registered bidders.
While auctioneer Wayne Spencer attempted to start the bidding at $650,000, the first bid was cast at $300,000 and never moved higher than $360,000.
The property was eventually passed in at $460,000, following an unsuccessful vendor's bid.
Tony Santolin from Griffith Real Estate said liquidators are currently in negotiations with a prospective buyer, but he urged anyone interested in the property to come forward and make an offer.
When it came to the disappointing result at the auction, Mr Santolin said respect may have played a part.
"It happens sometimes, people have too much respect for each other so they don't bid," Mr Santolin said.
"It could also be a case of just not knowing what's on offer."
The now-defunct club went into voluntary administration in May this year after a number of desperate attempts to keep doors open fell through.
It is hoped the sale will recoup a $470,000 debt still owed by the club.
The complex comprises two flood-lit tennis courts, bocce courts, a 135-square metre barbecue area, a 90-square metre machinery shed, commercial kitchen, bar, and a 400-seat functions centre on three acres of land.
Suggested make-overs for the facility include a bed and breakfast, resort-style accommodation, a functions centre, tavern or even converting it to a house.
Mr Santolin said bidders were offered an inspection of the property immediately after the auction.
"Once people see the price and realise the opportunity and the value, I think there'll be a lot more interest," he said.
"There have been some great ideas about what can be done with the place, it's just a matter of finding the right buyer."