Log In

Reset Password
BERMUDA | RSS PODCAST

Open tender for Morgan's Point, says former bidder

Government should re-open the bidding for what could be the Island's biggest tourism development project in many years, it has been claimed.

That is the opinion of a representative of one of the original groups who bid for the Morgan's Harbour project.

Some of those involved with consortiums previously considered for the multi-use Southampton Naval Annex are watching developments on the scheme closely.

And yesterday, lawyer Tim Marshall called for the whole bidding process to revisited.

"With a major project of this type, where the number one group has gone by the wayside after such a long period of time, they should open it up again,'' he said.

"At least so the original players could have the opportunity to either express an interest or confirm they are no longer interested.'' Mr. Marshall said most of the original bidders would probably no longer be keen on the project, but in the interests of fairness the offer should be made.

"For any group that still wanted to participate, it strikes me as unfair to say, `here you go BEAM','' he said.

BEAM Ltd., backed by BCM McAlpine boss Alan Burland, are understood to have been given a 90 day exclusivity agreement to pull together a deal for the former US Naval Annex.

They were handed the window after the Government pulled the plug on the original contract winners, Morgan's Harbour Investment Ltd.

MHIL planned a housing, golf, business and resort on the 250-acre site and had already spent $3.5 million on site surveys and other preparation work.

The details of the agreement between the Government and BEAM Ltd. are not known but industry insiders believe the three month time period is not feasible to come up with a concrete plan.

One source said it could take up to a year to fully investigate the ramifications of the scheme and the extent of the clean-up required.

And there still remains the question of Government indemnity for any unforeseen pollution on the site.

Mr. Marshall said his group was not interested in the project any longer, but added he believed BEAM should be given the opportunity if they have the financing secured.

"It is such a mega-project, there is no question it is a challenge for any group to develop that property. It requires a tremendous effort on the part of the Government.

"I wish BEAM the best of luck.'' Other developers are understood to be watching moves at Morgan's Harbour closely in case there are further opportunities in the future.

Development and Opportunity Minister Terry Lister did not return calls yesterday.

MILITARY MIL