CBM Sustainability Group chief executive John Dingemanse said his company “would be keen” to move forward with a project at the site if it was available for purchase.

The land is owned by Geelong property group Brile who proposed a $16 million retail project in 2015.

But the site remains undeveloped.

While there have been no formal negotiations between CBM and Brile, Mr Dingemanse said his project would be an ideal fit for the site.

The development would include a 140-room hotel, conference centre, 450-space car park, a wellness area, food and wine bar and a foot bridge linking the site to the Seaport.

A similar concept for a connecting bridge was proposed by Launceston entrepreneur Serge de Kantzow in 2004, however the project did not go ahead.

“[The site] demands a development that is more of a community facility, rather than just retail,” Mr Dingemanse said.

“It would create a dramatic development on what is currently an untidy, ugly site and it would also create an excellent [pedestrian] link between the Seaport and the CBD.”

Artists impressions reveal the historic Charles Street buildings would be maintained as part of the project.

“We [would] retain the old and respect the old but contrast it with new development,” Mr Dingemanse said.

“We are ready to take on a project like this ...whether this project goes ahead on the CH smith site or if the site [remains] unavailable, we would look to do this on another [Launceston] site.”

City of Launceston general manager Robert Dobrzynki said the council was committed to finding a “suitable development” for the site.

”We are exploring a range of options [and] are not limiting ourselves. Sometimes outside-the-box thinking is required, and creative solutions are called for,” he said.

"We're not in a position to say more at this time, but we are optimistic we may see some good news around the time Father Christmas arrives."