The building and land is owned by the University of Sunderland, which has been the centre’s custodian since 2010.
A spokesperson said no individual or organisation had come forward to offer any financial support towards refurbishing the building.
They added it would cost a minimum £14m, and more likely nearer £45m, to complete the required work “based on independent advice”.
“Without that guaranteed level of capital investment, the building does not have a long-term future,” a statement said.
“The building will close to the public at the end of July 2026.”
