OXFORD – Developer George Schott, who owns two malls in Auburn, has purchased the former Burlington Homes plant and land on Route 26 for $418,000.

But what his plans are, he’s not even sure.

“I have no idea. I didn’t even know I was buying it until 20 minutes before,” Schott said when asked Tuesday what plans he has for the 77,000-square-foot building at 613 Main St.

The former Burlington Homes building has another 4,100 square feet in office space and sits on a 13.5 acre prime site that borders routes 26 and 121. The real estate also includes a 28- by 44-foot modular classroom and two storage buildings.

Schott, 58, of Greene, said he drove to the auction Thursday morning with another person to bid on inventory, but when someone suggested he ought to bid on the real estate he figured, “Why not?” He became one of five registered bidders for the real estate.

Twenty minutes later, he had put in the winning bid and became the owner of the former Burlington Homes plant.

“I guess I was at the wrong place at the wrong time,” he said with a chuckle.

Schott, who was born and raised in Lewiston, said that he will look for a client to lease the plant.

“People always call me a developer but I’m more of a re-developer,” he said. “I like to take something and turn it around. It works good for me.”

In this case, Schott said he envisions finding a client to lease the space then redeveloping the building to suit the client’s needs. Typically, he said, that type of redevelopment will take about two years to complete.

Schott, who owns the Auburn Mall, the Mount Auburn Plaza and has been involved in other ventures, including the Auburn Plaza, which he sold in 2003, said whatever happens in the plant it will be something that makes money.

More than 500 people from New England and as far away as Pennsylvania were on site for the two auctions. Inventory and equipment were auctioned simultaneously to the land sales on Thursday.

Steve Keenan of the South Portland-based Keenan Auction Co., said the auction drew bidders ranging from modular home manufacturers to entrepreneurs and investors.

“It was a great success. Very successful,” said Keenan, who auctioned the inventory on a piecemeal basis for a grand total of $340,000. His partner Stef Keenan auctioned the real estate.

The auction was a secured party sale, which means collateral was sold to enforce the rights of a lender.

The building was owned by Burlington Associates, which Keenan said has no relation to Burlington Homes. The inventory was owned by secured creditor TD Banknorth, holder of the mortgage.

The auctions went on all day and resulted in 1,200 items being sold, said Keenan.

According to a preauction brochure, equipment included forklifts, transport trailers, trailer building material, interior and exterior doors, Sheetrock, insulation, particle board and plywood and other building and office equipment, and more than $600,000 in new building materials.

“Everything went that wasn’t nailed down,” Keenan said.

Schott and Burlington Associates have 45 days to close the deal, said Keenan. Some $18,000 of the winning bid will be paid to the town for taxes.

The factory closed in February due to lack of business after 14 years in operation, leaving 70 workers unemployed.

The area has been hit with several manufacturing plant closings over the past year, including Oxford Homes on Route 26, which closed last month in what officials called a temporary move.