The former Summerland site is back on the market after two previous attempts to sell it fell through.
Economic Development Minister Laurence Skelly told the House of Keys the site has been close to sale on two occasions but ‘regrettably the proposed developers were not in a position to proceed’.
He told MHKs: ‘There have been several other opportunities with proposed developers. It is unfortunate, I think it was last year in March, that the agreement with the company to develop fell into administration, and therefore that is why it is back on the open market.’
Mr Skelly explained that the site is being marketed by Michael Chapman & Co, with the objective to generate capital receipt for government and to see the site redeveloped, creating economic activity for the benefit of the Manx economy.
How quickly the site is sold will in part depend on market forces, he said.
Mr Skelly said government needed to consider a ‘creative offer’ but it also needed to recognise it is a difficult site for a number of different reasons – not least the stability of the cliff face and restricted access.
David Quirk (Onchan) asked if the government should consider stabilising the cliff face.
Mr Skelly replied that this was a good idea.
He said: ‘We would all recognise, this had been a problem with previous bidders, and should government be proactive and stabilise and resolve that issue? I think it is a very good question and something we need to raise within our development team, and I will take that up.’
Bill Malarkey (Douglas South) queried whether the site actually has a price tag on it, or is it just open for tender. ‘Is the department prepared to let it go for 25p if somebody puts the cliff face right, or are we actually marketing it for so many millions of pounds?’ he asked.
Mr Skelly said he did not believe there is a set price and the site is open for offers.