A planned closing this week on the sale of the former Wiscasset Primary School building fell through but another potential buyer has made an offer.

“The first buyer has just notified us that they are withdrawing their offer to purchase,” wrote Town Manager Marian Anderson in an email to the Wiscasset Newspaper Monday morning, Dec. 12.

Anderson added, however, that a second buyer has stepped up. “We anticipate the closing within 45 days,” she wrote.

Reached for comment Tuesday morning, Judy Colby, chairman of the board of selectmen, said she was disappointed but remained positive the building would soon be sold. “Another party is interested and hopefully this time we’ll close on the sale.”

Colby said the closing date is set for sometime in the early part of the new year. “From what I understand if the purchase to this individual goes through, the property will go back on the tax rolls.”

In August, selectmen lowered the price of the property to $525,000 and renewed their contract with real estate agent Sherri Dunbar of Dunham Realty for another year. The property was first listed at $749,000. Selectmen had previously reduced the price, first to $649,000 then $595,000. In December 2014, voters approved closing the k-3 school.

Several parties have been interested in the property. One was considering establishing a charter school, another a holistic health spa and healing center. It’s being marketed as a possible location for a medical building, assisted living facility, office building or condominiums.

For several month,s a portion of the building was leased to Lincoln County Healthcare of Damariscotta as a training center. The lease expired in May.

The building has over 55,000 square feet of floor space, 50 rooms including a multi-purpose room, basement and two large parking lots. A burst pipe last winter caused some minor water damage in the building’s north wing; repairs have since been made.