on Pitts Bay Road, Pembroke, which is currently used as an industrial boat slip.

PW's chief executive officer Mr. William Cox said: "We want to sell it because it's something which is not being utilised by the company.'' The land, formerly the home of the Pitts Bay Boat Company, has been for sale for several years. It is understood that PW's has previously sought as much as $1.4 million.

The site has been leased by Harrison Marine Repair since 1985. Mr. Richard Harrison, the company's owner, said: "The land has been up for sale before and is advertised every couple of years.

"Obviously, it will be bad news for us if it's sold because we would have to move. We've built up a nice clientele here over the years,'' he said, adding there was "nothing to panic about at the moment''.

PW's has set a deadline of October 29, 1993, for offers.