Broad Lane Business Centre in South Elmsall is being sold by Wakefield Council – with a guide price starting at just £150,000.
The part-let centre – home to Elm Valley Enterprises, Just Homes Care Ltd and RDT Precision Optics – will be auctioned off in Leeds on Thursday, July 10.
Owner Wakefield Council is selling the centre, which generates an annual income of £46,596, with a guide price of £150,000 to £200,000.
But people who rent the units feel they have been misled, after being told earlier this year that the centre was not for sale.
Vincent Hill, owner of Elm Valley Enterprises, said: “I asked the council if the centre was going to be sold a few months ago and they told me no.
“I expanded my business by letting another unit, which cost me a lot of money. Then I find out the centre is being sold.
“The council has been really underhand about this. They said it is being sold as a going concern but that doesn’t mean anything.
“Whoever buys the centre could give us a month’s notice and then knock all the units down to make way for a new housing estate.”
Judith Badger, the council’s director of finance, property and resources, said: “We have only recently made this decision – and tenants were told as soon as we were legally able to let them know.
“The sale is due to the urgent and costly repair work required and the consistent low occupancy rates at the centre at a time when the council is being forced to reduce its budgets by £61 million over the next two years.
“A guide price was set by auctioneers Eddisons and is needed to attract potential purchasers but does not necessarily reflect the final sale price.”