The only way to save Albert and Victoria Row from the wrecking ball is by attracting an entrepreneur to renovate the historic buildings, the Bermuda National Trust has conceded.

The executive director, Jennifer Gray, said the Trust was “in no position to take on such a large project”, but said it would fully support the entrepreneur if they were to take on the work.

In October The Royal Gazette reported that Victoria Row in Sandys was to be demolished after falling into disrepair.

Landowners, the West End Development Corporation (Wedco), said it had done everything it could to attract investment and to find a viable solution that would incorporate the old structure, but without luck.

The news prompted concerns to be raised about the future of Albert Row too.

Ms Gray told The Royal Gazette: “The Bermuda National Trust and Wedco have recently been in touch about the fate of Albert Row.

“It is one of the terraces on Ireland Island which was built to accommodate the civilian workers at the Dockyard. Over the years the terrace, along with others in the area, has deteriorated and would need major investment to bring back into use.

“The site is spectacular and the buildings, if rehabilitated, would have wonderful views to the northwest. Much of the terrace is strongly built and there are charming little courtyards behind each house.”

The idea of levelling Victoria Row was first mooted in 2009, but a final decision over the property’s fate was only made at the beginning of last month once all other avenues had been exhausted.

At the beginning of October Wedco advertised a request for proposal for tenders to conduct the demolition work as well as dealing with the asbestos

Ms Gray said: “Wedco has been unable to fund the restoration of the terrace so approached the Bermuda National Trust, knowing that it has long been an advocate of preserving the terrace and other Ireland Island buildings of the period.

“The trust is extremely sympathetic but with a tiny staff and a much reduced income, is struggling even to maintain the buildings it owns.

“So it is in no position to take on such a large project, particularly as current legislation means that it could only be given a 21-year lease. The one hope of saving the terrace, and probably the even more attractive neighbouring Victoria Row, is that an entrepreneur will be attracted by the project.

“The Trust would certainly give all the support it was able to such a person. So much has already been lost and the Dockyard and its subsidiary buildings are an important part of Bermuda’s history.”