The former Spotlight building, which over the years has been the home to numerous businesses including Woodhills, Mates, Emmotts, JB Youngs or Grace Brothers during its 130-year history, has been offered for sale by Nowra's Integrity Real Estate and MMJ (Martin Morris and Jones) in Wollongong.

Integrity director Peter Russell said there was lots of interest in the 4000 square metre property on Berry Street, in the heart of Nowra.

"Expressions of interest have closed and we have a couple of interested parties in the property for a variety of reasons but redevelopment was high on the agenda," Mr Russell said.

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"But the complexity of the site has many of the would-be purchasers doing a lot of research into what they can do or would have to do regarding the property,"

Mr Russell said the property, which is owned by a Queensland family business Fatseas Investments Pty Ltd, who have large commercial land holdings in NSW, attracted interest from the Illawarra and Sydney.

"No local interests in the property was lodged," he said.

"By far the majority of people interested in the location said the site offered little in its current form, with council [Shoalhaven City Council] claiming it has historical value."

It is understood prices could range from $3 to $4 million.

Mr Russell is hopefull further announcements about the property will be made within a month.

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