THE Oak Mall shopping centre is on the brink of being sold, the Tele can reveal.

Agents tasked with finding a buyer for the Greenock retail complex - valued at £14m - say they are hopeful of completing a deal in the 'next few weeks'.

Top commercial estate agents Savills are dealing with the sale and say there has been a decent level of interest in the shopping centre, despite high streets across the UK struggling.

The Tele revealed in July how the Mall had been put on the market by its Luxembourg-based owners, Lunar Greenock Sarl, for less than half the £35.7m they shelled out for it just five years ago.

It had been suggested that a closing date earlier this month had passed without any offers for the centre.

That has been denied by officials tasked with selling the Mall.

Toby Ogilvie Smals, director of retail investment at Savills, said: "We have interest.

"There hasn't been a closing date.

"It's a flexible process.

"We will be drawing things to a conclusion shortly."

Asked if he is confident the centre will be sold, Mr Smals said: "I certainly hope so. That's the plan. "It's the intention to sell in the next few weeks."

It is understood three bidders at the table indicated they were unwilling to meet the £14m asking price.

A source close to one of the potential suitors says £4-6m is a more 'realistic' figure.

Nevertheless, there does appear to be interest in the Greenock shopping centre during a time of turbulence for the British retail sector.

Mr Smals said: "It's reasonable.

"There are lots of tenants and there's been a few additions."

The Mall has suffered the loss of several big-name retailers over the years such as Marks and Spencer, Burton, Dorothy Perkins and, more recently, H Samuel just last month.

The latets blow came when Thomas Cook was added to the list this week after the travel agent went bust on Monday.

But the Mall still retains several marquee tenants such as Primark, New Look, JD Sports, Boots, Wilko, Greggs and Costa Coffee.

Several independent retailers have joined the likes of stationery chain The Works and discounter Bargain Buys in moving into the complex recently.

As revealed by the Telegraph last week, shopping centre bosses are launching a fresh bid to have the eastern wing of the Mall demolished as part of regeneration plans.

Council officials are reluctant to see such a large amount of Greenock town centre retail space disappear, even though there are a large number of empty units and urgent external maintenance work needing to be carried out by trunk roads bosses.