Daniel’s Head to be marketed to developers
Daniel's Head is to be marketed to global developers in a bid to revive the former resort location.
The Bermuda Land Development Company Ltd is working with KPMG Advisory Ltd to market the site to potential developers. The site was formerly the 9 Beaches resort.
“We are delighted to have access to KPMG's professionals,” said Francis Mussenden, BLDC's chief executive officer.
“This engagement is part of our work to position BLDC as a facilitator of land development opportunities that will yield significant benefits for Bermuda and its residents.”
KPMG's work will comprise several phases, beginning with an initial assessment of market appetite. The firm will also develop a compelling business case, analyse proposals and support BLDC in finalising lease terms.
“Daniel's Head is a significant asset for BLDC and Bermuda,” said Stephen Woodward, managing director and sector lead, KPMG Enterprise.
“We look forward to helping BLDC attract a global developer, with a successful track record in the hotel and leisure industry, in order to optimise the value of the property.”
KPMG will work alongside BLDC property development and marketing manager Michele Renda, who joined the organisation in 2017 to spearhead work on Daniel's Head, Tudor Hill, and Southside.
Mr Mussenden said: “Ms Renda has been a valuable asset to our team. Her experience in marketing, civil construction, and real estate development — and as an accomplished entrepreneur — ensures we have significant insight into the targeting and selection of viable developers.”
Ms Renda, who has led a number of private tours for hotel operators, investors and developers in recent months, said: “We have received a great deal of interest in Daniel's Head since taking possession last year.
“In particular, a great deal of interest was expressed during the Caribbean Hotel Investment Conference and Operations conference in November 2017, when every major player from the regional hotel industry was in Bermuda.”
Daniel's Head beach facilities were upgraded in early 2017, and BLDC indicates the site will be open to the public again for the summer season.