A redevelopment of the former Ariel Sands hotel could still be on the cards with a group from North America said to be heading to the island to look at the property and talk to movie star owner Michael Douglas.

Lou Maroun, a US developer and adviser who has been associated with the Ariel Sands redevelopment project, said: “There is a possibility something is going to happen.

“There is a group coming from North America to see if it is viable and to speak with Michael.”

The South Shore property is on the market for $12.5 million.

The 14.5-acre former Ariel Sands hotel and cottage colony in Devonshire closed in January 2008 and the site was later cleared in anticipation of redevelopment.

Despite several resort development plans for the location over the past decade, including interest from the Hilton hotel group, none came to fruition.

The Bermuda home of Mr Douglas and his actress wife, Catherine Zeta Jones, is also for sale.

Longford House, in Warwick, was put on the market in 2016.

The eight-bedroom house has a guest cottage, apartment and caretaker’s cottage.

The luxury home is advertised for $10.6 million by Rego Sotheby’s International Realty, which is also advertising the Ariel Sands site.

The Ariel Sands property was used for a three-month pop-up innovation campus and beach club hosted by Bermudian-based Hub Culture last year.

Mr Douglas, 73, is the son of Hollywood legend Kirk Douglas and the late Bermudian actress Diana Dill. The Dill family’s ancestry in Bermuda dates back to 1630.

The family first owned the Ariel Sands property in the 1840s and it opened as a hotel resort in 1954.

Mr Douglas and Ms Zeta Jones also own properties in the US and Spain.

He was in France this week to promote the release of his latest movie, Ant-Man and the Wasp.