Castle Manor has been vacant for two years. (CBC)

The fate of a landmark heritage property in Moncton is uncertain after a public auction for it drew no bids.

Castle Manor and an adjoining piece of property went on offer Wednesday, but no one purchased the 25,000-square-foot building.

Paulette Theriault is a city councillor and the liaison for the Heritage Preservation Review Board.

"I'm always concerned about demolition by neglect. Until you have someone who comes forward and shows some interest and has a vision for redeveloping this type of building, we have to be concerned," she said.

"It's there for the taking at the moment. I'm sure it's something that will be discussed at the heritage board and probably [with] colleagues at council as well."

Theriault hopes someone will come forward to save the property.  

Former owner defaulted on mortgage

The castle has been in limbo since it was sold to a local developer almost a year ago. He defaulted on the mortgage. The company that now holds the mortgage has to decide what it's going to do with it.

Lawyer Thomas Maillet represents the mortgagee.

"Nobody bid on the properties, so I'm going to sit with the mortgagee and decide what they want to do with the properties," Maillet said.

The castle was built in the early 1900s and formerly housed a Catholic school and seniors home.

The mortgage sale notice says if a sufficient offer of purchase is not received for the 271 Mountain Road property at the public auction, the Castle Manor property could be withdrawn and disposed of by private contract without further notice.