The Department of Infrastructure is re-advertising a major commercial development opportunity on behalf of the Isle of Man Government.

Fresh expressions of interest are being invited to develop the Lord Street and Parade Street sites in lower Douglas. Interested parties have until 4pm on Friday 29 July 2016 to submit their bids.

It is hoped that the redevelopment of the prominent quayside area, which extends to a combined 2.92 acres, will act as a catalyst for further regeneration of the Island’s capital. Any proposed development will be subject to planning approval, but a mixed commercial use including leisure facilities, a hotel, shops and offices is envisaged.

The Douglas Masterplan, which sets out a bold vision of how the town centre may be developed in the future, identifies the enormous potential of the two sites.

A conceptual scheme for Parade Street shows a multiplex cinema, retail and office accommodation and a multi-storey car park. For Lord Street, the Masterplan highlights the potential for a winter garden, hotel, apartments, gallery/exhibition space, retail, cafes and car parking.

Redevelopment of the Lord Street and Parade Street sites, which are currently used for car parking, would complement other projects being progressed by the Department. These include improvements to the infrastructure and appearance of the town’s retail centre and the proposed refurbishment of Douglas Promenade.

Infrastructure Minister Phil Gawne MHK said: ‘While it is frustrating to have to start this process again it is the only way to be certain that these sites will achieve the best possible value for the taxpayer.’

He added: ‘We are seeking to encourage significant new investment in Douglas to support the Government’s national priority of growing the economy. This is an opportunity to develop a prime area in Douglas fronting the inner harbour and marina and close to the main shopping streets. The Department will look at bids for the two sites combined, one site, or even a sub-division of sites.

‘The redevelopment of the Lord Street and Parade Street sites would provide new amenities for residents, visitors and businesses and support the Government’s ambitions to create a world-class capital.’

Interested parties can download an information pack from the Government website at www.gov.im/lowerdouglas while further details can be obtained by writing to the Department’s Director of Estates Rodney Christopher.

Development bids should be emailed to lowerdouglas@gov.im while paper submissions can be sent to Mr N. Black, Chief Executive Officer, Department of Infrastructure, Sea Terminal, Douglas, Isle of Man, IM1 2RF in an envelope marked ‘Lower Douglas Bid 2016.’