BURNLEY town centre is up for grabs -- with a £60million plus price tag for anyone wanting to buy it.

The council today confirmed it was aware that London-based Great Portland Estates, the group that owns most shops in the market square and surrounding malls have put the centre on the market.

Along with the three other shopping centres the company owns in Cardiff, Harlow and High Wycombe, it is reported to have a combined asking price of £240million.

The move comes eight years after Great Portland bought the central area properties -- and embarked on a £30million investment programme in the centre.

No town hall spokesman was available to comment on the development, although MP Peter Pike said he was sorry to hear Great Portland aimed to pull out.

But Paddy Brady secretary of Burnley Market Traders -- which operates from the market hall owned by the council said Great Portland had done his members no favours.

Last year Great Portland Estates further tightened its grip on Burnley town centre by snapping up the Empress Block in St James Street in a near £6million deal -- taking the company's investment in Burnley to more than £30million in five years.

The news came a year after the firm's £13million Curzon Square Development -- which provided new parking and more than 80,000 sq ft of new shopping in the centre began operating.

The Empress block, opposite Marks and Spencer and bounded by St James Street, Curzon Street and The Mall, was built in the 1960s and comprises 14 retail units including The Body Shop.

The island block borders the Market Square town centre complex already owned by Great Portland.

In 1999 Great Portland swooped to buy the Co-op Living Store in Market Square for £2.6million after the loss-making Co-operative Retail Services pulled out.

The investment added to the £12.5million Great Portland pumped into massive refurbishment of the shopping areas after the company took ownership of the 1960s-built centre in the mid 1990s.

The next major milestone was the opening of the first Curzon Square store -- discount retailer T.J. Hughes which moved into a 30,000sq ft unit. Wilkinsons retail chain took a similar sized store.