More than 40 acres of property on White Crest Hill in Hamilton Parish is up for sale for potential residential or hotel development, according to an online listing.

International real estate company CBRE has stated on its website that it has partnered with Coldwell Banker Bermuda Realty, serving as exclusive sale agents, to “present the opportunity to acquire a premier development site in Bermuda known as White Crest Hill”.

A website for the project stated: “This most significant 40-acre property located in prestigious Tucker’s Town offers the opportunity for master plan residential or boutique hotel development with spectacular water and golf course views.

“White Crest Hill is adjacent to the prestigious Tucker’s Point Golf Club and the upscale Tucker’s Point Resort & Spa. The location offers easy access to the island’s airport and the capital City of Hamilton with its numerous shopping and dining choices.”

Another section of the site adds: “The 40.38-acre property with approximately 24 acres of developable land allows, per a Special Development Order SDO and Development Applications Board approval, a master plan of up to 50 lots and the development of an additional 43 single-family homes (four homes already exist and three lots given in conveyance).

“Alternatively, a subdivision to a few large private lots for magnificent estates, or boutique hotel in this most desirable location could be attractive to a developer.”

The website also included aerial footage of the proposed development site which was posted on YouTube in early June.

In a statement this morning, Coldwell Banker Bermuda Realty said: “The White Crest Hill property does form part of the Tuckers Point SDO. As part of the SDO more than 35 acres have already been conveyed to the Government for conservation purposes, which includes a substantial portion of White Crest Hill.

“White Crest Hill, also known as Catchment Hill, includes four existing houses, a couple of ruins, three large disused water catchments and associated water tanks. A number of large disused quarries are also located within the confines of the property.

“The property being offered for sale is zoned for development in accordance with the current planning statement. In accordance with the SDO conditions the owner has been complying with the requirements of the SDO, including in part carrying out environmental impact studies.

“The potential development of the property offers Bermuda another opportunity for job growth and further support of the islands local construction and tourism industries and the positive economic impact that would stem from those.

Brian Madeiros, president and CEO, meanwhile confirmed the property was introduced to the market in June, and the agent has confirmed interest in the property which has culminated in several showings to both local and international parties.

The property, formerly known as Catchment Hill, had been approved for the development of 50 residential units through the Tucker’s Point Special Development Order (SDO) in 2011, but the Mid Ocean Club said it would not allow the project to proceed.

Michael Dunkley, the president of the club at the time, said development of the site would breach a deed of covenant signed in 2000 to allow Tucker’s Point to develop an area around the Mid Ocean Club’s golf clubhouse.

One of the conditions of the exchange was the preservation of woodland and nature reserve on Catchment/White Crest Hill.

However, Tucker’s Point said the deed would only impact nine lots and other parts of the White Crest Hill development plan would be unaffected.