Liverpool City Council is looking for a partner to manage a country house and 500-acre park dating back to Tudor times.
Croxteth Hall and Country Park would remain open to the public but the council says new management would secure new investment and save £1m a year in running costs when the new operator takes over early next year.
The hall and country park includes an adventure playground, gift shop, aerial rope adventure course, horse riding centre and café and attracts more than 600,000 visitors a year.
Cllr Steve Munby, cabinet member for neighbourhoods, said: 'Croxteth Hall and Country Park is a jewel in Liverpool’s crown and we need to get the management of its future absolutely right.
'This a very complex estate containing multiple dwellings, covenants and leases with a whole raft of conditions limiting what can and cannot be done.
'Those interested parties who are looking to submit a bid are going to need a lot of time to understand the inner workings of the estate and what the stakeholders are looking for to ensure their proposed business plan is workable and deliverable.
'I look forward to working with the stakeholders in Croxteth Park on this process and we are determined to find a sustainable solution for the estate, and take care to get it right.'
Image: Peter Etchells / Shutterstock.com.