The Urban Development Corporation (UDC) says it has received just one bid for Oceana, an imposing multi-storey edifice on the waterfront that was built as a hotel but now doubles as office space on the downtown Kingston waterfront, that the state developer is trying to sell.

"Persons picked up, but only one has come back so far," said Joy Douglas, general manager of UDC, referring to the bid packages.

Douglas chose not to disclose the identity of the developer ahead of negotiations to hammer out the terms of the deal.

"It is an entity that is very credible, has a strong track record," she said.

"It is an entity that does development."

The developer is preparing a proposal on its plan for the waterfront property, to put to the UDC within two to three weeks, Douglas said.

The UDC has publicly stated its preference that prospective buyers of the property operate it as a hotel, as it was up until its closure some time in the 1990s.

The Oceana Hotel sits on 7,687.91 square metres (82,754.71 square feet) of land. The building comprises a tower with 12 floors with an area of approximately 20,664 square metres (222,129.44 square feet).

The building currently houses three tenants: the Ministry of Health, Spectrum Management Authority (SMA), and Track Price Plus Limited.

The Ministry of Health, which occupies most of the building, said this week it would not comment on whether it had found a new home. And the Track Price manager was said to be out of office.

Danville Davidson, SMA general manager, said his agency, which distributes spectrum licences to broadcasters and telecommuni-cations firms, does not have offices on the building but utilises space on the roof of the complex for its equipment.

Davidson said a similar arrange-ment would be sought with the new owner of the hotel when it is sold, saying the Oceana was a convenient locale, as one of the tallest buildings in the downtown area.

dionne.rose@gleanerjm.com