IT’S hoped that a development agreement for a new hotel on the old bus station site in Douglas could be signed in the very near future, MHKs were told this week.
New Minister for Infrastructure David Cretney told the House of Keys that developers Askett Hawk were in the island last week and that have been talks to move the project forward.
Askett Hawk was named as the preferred developer for the multi-million-pound quayside hotel scheme in January 2006 and was granted a controversial 999-year lease for the Lord Street site in March 2008.
The £70 million redevelopment of the bus station site will 120-room four or five star hotel, around 60 associated flats, 24 retail and leisure units and a 150-space car park.
In a statement to the Keys, Mr Cretney said his department was working to conclude the development agreement with Askett Hawk (Isle of Man) Ltd, in line with the previously agreed heads of terms and a report received at the June sitting of Tynwald.
He said following discussion with Askett Hawk he was hopeful the development agreement could be concluded ‘in the very near future’.
David Quirk (Onchan) said he was sure everybody in the island was waiting for the former bus station plot to be developed.
Mr Cretney replied: ‘I will do whatever I can to expedite it.’