A disused resort is set to receive a new lease of life after investment from an international developer.

Michael Douglas, a Hollywood star and owner of Ariel Sands, has teamed up with Slovakian real estate developer JTRE to redevelop the 13.8 acre Ariel Sands site on the south shore into a five-star resort.

A spokesman said the redeveloped resort would be managed by an “internationally recognised operator, offering branded condominiums and luxury villas, and a multitude of desirable amenities”.

Peter Korbačka, the founder of JTRE, said: “I’m delighted about the opportunity to develop this property into one of the most beautiful beach front locations in Bermuda and to build on the spirit of the popular original Ariel Sands resort, in partnership with Michael Douglas, who has deep family ties with the property.

“We plan to create a unique destination where contemporary architectural design compliments the extraordinary natural settings of Devonshire.”

Mr Douglas said he and his wife Catherine Zeta Jones were excited by the opportunity to work with JTRE on the “rejuvenation” of the Devonshire resort.

He added: “This is a project that is close to our hearts and we feel we are in good hands working with JTRE.”

The JTRE spokesman said the project’s location would provide the resort with “a perfect backdrop”.

He said: “The development plans for the project focus on emphasising privacy, maximising the stunning ocean views and pink sand beach, as well as numerous unique water features to provide guests and owners with a one-of-a-kind, relaxing atmosphere.”

JTRE was founded in 1996 and has led projects in six countries, including residential, hotel, industrial, retail and multifunctional developments.

Among the developers projects were the waterfront district of Eurovea City in Bratislava and the first Slovak skyscraper, the Eurovea Tower.

JTRE has also developed hotels, including the Grand Hotel Kempinski High Tatras, Grand Hotel River Park Bratislava, Crowne Plaza Bratislava, DoubleTree by Hilton Kosice and Hotel Baltschug Kempinski Moscow.

Ariel Sands hotel and cottage colony closed in January 2008 and the site was later cleared in anticipation of redevelopment.

Despite several development plans for the location over the past decade, including interest from the Hilton hotel group, none got off the ground.

The Ariel Sands property was used for a three-month pop-up innovation campus and beach club hosted by Bermudian-based Hub Culture in 2017.

Mr Douglas, 77, is the son of Hollywood legend Kirk Douglas and the late Bermudian actress Diana Dill.

The Dill family's history in Bermuda dates back to 1630.

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