A portion of an iconic East End shopping and dining area is in the process of being sold.

The sale of the east side of Somers Wharf is expected to close at the end of the month.

David Summers, president of owners Wilkinson Estates Ltd, said: “The property is on the market, an agreement has been made for sale, but the sale and purchase agreement has not been executed.”

Mr Summers said he would not reveal the identity of the purchaser “until it’s signed”, adding: “Rumours are rife.”

The property was listed for sale by Rego Sotheby’s International Realty for an asking price of $1.65 million.

It includes 12,000 square feet of interior space, and covers an area of 0.39 acres along 150 feet of waterfront on the edge of St George’s Harbour.

Tenants on the site include Tempest Bistro, Davidrose Jewellery, Vera P Card, BruMae Caffe, St George’s Crown newspaper, the Bermuda Police Service community station, and Dragon’s Lair, a gallery.

Mr Summers said the property was being sold because it is part of an estate of which the principals have died.

He added: “It’s the winding up of an estate.”

The west side of Somers Wharf, beginning with the building that houses Davison’s of Bermuda, is owned by the Meyer Group of Companies.

Cheryl Hayward-Chew, president and chief executive officer, said the company’s Somers Wharf holding is not for sale.

She added: “We haven’t been tempted to sell at all. With the hotel coming online, there are a lot of positive things coming in St George.”