The property, which has lain empty since August 2018 when the company closed the store, has frontages on to both the main High Street and the Howgate Centre.
It has six floors and covers over 7800 square metres.
Savills who are marketing the property on behalf of M&S, are inviting proposals for either the freehold or leasehold basis.
However, it is understood that talks with a potential buyer or leaseholder are well advanced.This week an M&S spokesperson said: “We have been working hard to find a buyer for our site and are making good progress.
"We hope to be able to update the local community soon.”
It’s three years since the retail giant announced it was consulting on closure and eventually the last customer was served on August 11.
Around 90 staff were affected with some choosing to leave and some moving to other stores, including the Simply Food outlet at Central Retail Park, Falkirk.
It has been so busy that work is underway to almost double it in size by taking over the neighbouring store.
In the last week M&S has said it plans to close another 30 shops over the next ten years as part of its turnaround plan.
M&S has already closed or relocated 59 main stores, as well as cutting 7000 jobs across stores and management.
The High Street retailer currently has 254 full-line stores, selling clothing, homewares and food.