THE controversial Market Place shopping centre is on the verge of being sold for £20 million.

Six potential buyers — some believed to be big high street hitters — are in the running.

But those behind the sale stress a willingness to improve the complex as well as work closely with Bolton Council is now key to any deal.

The prospective sale follows a series of closures, including La Senza, the Body Shop and Top Shop, while the complex’s former owners Agora Shopping Centres have gone into administrative receivership.

Since then, the Market Place has been managed by London and Associated Properties on behalf of Lloyds TSB Bank, and GCW have been acting as letting agents.

GCW director David Gooch confirmed that a deal was “within 48 hours of agreement” yesterday.

“We have received a number of proposals for the Market Place and we are in the process of deciding which of these we are going to accept,” he said.

“We are liaising with Bolton Council so that when we choose, they are comfortable with the decision.

“Six companies are in the running and it looks like we have achieved a price in excess of £20 million.

“I am going to know who it is in the next 48 hours, but we do not want to release it in case there are hitches.

“It will take about four weeks to complete the details for all parties.”

Investment in the shopping centre is also vital to the sale.

Mr Gooch said: “I fully understand that whoever is the buyer needs to be someone who is going to invest in and improve the shopping and the party we are likely to accept will work closely with Bolton Council as well as us.”

The conversion of the Market Place from the former Market Hall, in which 50 independent traders had stalls, was hugely controversial with more than 30,000 signing a petition against it.

In 2005, the scheme had an estimated cost of £30 million, but by January, 2007, costs had jumped to £40 million.

It was in that month that the stallholders moved out of the site, bringing an end to 151 years of trading there.