’I think it is absolutely disgraceful, the way the building has been allowed to deteriorate.’

That was the view of the then chief minister Allan Bell in the House of Keys last year when he criticised the state of the Castle Mona.

Now an engineers’ report commissioned by an investment company interested in buying the listed former hotel to transform it into a hotel and private club has set out exactly what condition the historic landmark is in.

And it concludes that while there are problems with rot, damp and decay, cracked stonework, a possible leaking roof and other areas of water ingress, the old building is in surprisingly good condition, despite years of lying mothballed.

The preliminary structural condition assessment by the Morton Partnership concludes: ’The external masonry walls are in good condition with only relatively modest repairs necessary.

’The portico requires some further investigation and repairs but rebuilding is not necessary.

’Internally, while there are clearly area of repair required, these are not wholesale and principally relate to the where water ingress had occurred. The overall percentage is modest and I do not see any great difficulties in undertaking this work.’

The report, commissioned by the Wild Coast Group, suggests an initial ’soft strip’, removing plasterboard and softwood partitions, to get a better understanding of the condition of the fabric of the building.

It says the majority of the damage internally has been caused through roof leaks in the past. Temporary fixes have held well, it notes, with only relatively minor areas of currently active water ingress but it seems clear that a re-roofing will be needed.

In the central stair tower there is a significant quantity of pigeon droppings on the second floor and the third floor is quite badly decayed.

The internal courtyard is in-filled at first floor level with a flat roof which is ’clearly problematic and there is still active water ingress’. A new structure around this will certainly be required, notes the report.

Under the Wild Coast Group’s proposals, the Castle Mona would be completely refurbished as a top end hotel/private club with 18 flats for sale plus penthouse suites.

Later additions would be demolished to provide a dramatic extension in the same style, containing 21 further flats.

It also has proposals to buy and demolish the Palace Hotel for a new development containing 72 to 96 retirement flats, and build a casino, multiplex cinema and 4-5* 100-bedroom hotel on the Middlemarch site.