THE sale of 27 units in Whessoe Road, Darlington, does not mean the present businesses will be evicted.
Tenants have been reassured by Brian Coady, of Darlington Enterprise Association, who is negotiating a deal with a consortium.
Some of the small businesses have been there for 15 years and 13 of the traders formed a syndicate and offered to buy the property for £750,000 when they heard about the sale.
Last week, they were informed their bid had been unsuccessful.
Stephen Booth, of BGB Motorcycle Clothing, said he was concerned his company and others could be forced to find alternative accommodation.
"We don't know who it is that has bought the premises, only that we have been told it is a big developer.
"For all we know, they could be thinking of developing it into flats.
"They only have to give us three months' notice to leave, or alternatively they might want to increase the rents. Either way it is bad for the businesses and I will be looking for somewhere else.
"These units were there to help small businesses, so when we all got together to form this syndicate you would have thought they would give us first refusal."
But Mr Coady, who said the deal had still to be completed, said the businesses had nothing to fear.
"It has been bought with a view to continuing having businesses in there.
"We are keen they continue to do well - it would not be in the interests of a purchase for them not to be there," he said.
Although the association had a role to help businesses, it also had to look after its own development, with money from the sale being ploughed back into the organisation's work.
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