BLDC engages KPMG
The Bermuda Land Development Company Limited (BLDC) today announced that it has engaged KPMG Advisory Limited to complement efforts to market the Daniel’s Head site to potential developers.
“We are delighted to have access to KPMG’s professionals,” said Francis Mussenden, BLDC’s Chief Executive Officer. “This engagement is part of our work to position BLDC as a facilitator of land development opportunities that will yield significant benefits for Bermuda and its residents.”
KPMG’s work will comprise several phases, beginning with an initial assessment of market appetite. The firm will also develop a compelling business case, analyse proposals and support BLDC in finalizing lease terms.
“Daniel’s Head is a significant asset for BLDC and Bermuda,” said Stephen Woodward, Managing Director and Sector Lead, KPMG Enterprise. “We look forward to helping BLDC attract a global developer, with a successful track record in the hotel and leisure industry, in order to optimize the value of the property.”
KPMG will work alongside of BLDC Property Development and Marketing Manager Michele Renda, who joined the organization in 2017 to spearhead work on Daniel’s Head, Tudor Hill, and Southside.
“Ms. Renda has been a valuable asset to our team,” said Mr. Mussenden. “Her experience in marketing, civil construction, and real estate development—and as an accomplished entrepreneur—ensures we have significant insight into the targeting and selection of viable developers.”
“We have received a great deal of interest in Daniel’s Head since taking possession last year,” said Ms. Renda, who has led a number of private tours for hotel operators, investors and developers in recent months. “In particular, a great deal of interest was expressed during the Caribbean Hotel Investment Conference and Operations conference in November 2017, when every major player from the regional hotel industry was in Bermuda.”
Daniel’s Head beach facilities were upgraded in early 2017, and BLDC indicates the site will be open to the public again for the 2018 summer season.