The Bermuda Land Management Corporation is gauging interest in development at a site in St David’s.

A recent public notice stated that the BLMC had received a proposal from a private developer for the “long-term lease and development” of six acres of land at Marginal Wharf, also known as Ships’ Wharf.

The notice continued: “Prior to final consideration of this proposal, BLMC is undertaking a market-sounding exercise to determine whether there are any other demonstrably interested and capable entities interested in pursuing a comparable long-lease and development opportunity for the site.”

It cautioned that it was not a request for proposals, an invitation to tender or a commitment to enter into negotiations with any party.

The notice added: “The purpose of this exercise is solely to gauge market interest and assist BLMC and the Government of Bermuda in evaluating the proposed transaction and ensuring appropriate consideration of alternative opportunities.

“The identity of the existing proponent and details of its proposal will remain confidential during this market-sounding exercise.”

While submissions were sought, the notice said that any submissions must include a description of the proposed development concept, details demonstrating fiscal capacity to undertake the proposal, relevant development experience and indicative commercial terms.

A raft of different proposals has been submitted for Marginal Wharf in recent years including housing, a new hotel, a commercial fishing base and new container docks.

In 2014, the Bermuda Land Development Company — a precursor of the BLMC — called for expressions of interest to develop the site, which was occupied by the United States Navy until 1995.

Lieutenant-Colonel David Burch, when he was the Minister of Public Works, announced in 2018 that the Government was considering proposals for a new power plant, capable of generating at least 20 megawatts of power, and a cargo port in the area.

A BLDC spokeswoman said at the time that the request for quotations was seeking “developers and investors to finance the development whereby BLDC leases the land to investors/developers who will finance the project themselves”.