A hotel could form future plans for a former university campus at Beauty Point.
Sydney-based developers Traders in Purple have called for expressions of interest for the site after purchasing it in 2017.
When the developers announced the purchase, they did not have any plans for the site, but aimed to keep many of the site's facilities in tact.
Various accommodation options, a range of offices and training rooms, the only flume tank in the southern hemisphere, swimming pool and a sports ground are located on the four-hectare site.
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The developers' intention is to use the facilities to revitalise the middle section of the Tamar River region through a mixed-use development on the site.
The facility is worth about $50 million now, but potential further development is likely, the company's Tasmanian project director Rod Bramich said.
The company hopes to identify individuals, government departments, and businesses with an interest in using the Beauty Point facilities for training or community activities, such as an administration centre, or for maritime and associated research.
Expressions of interests were called for on Thursday for the "unique" site. The office spaces, training rooms, flume tank, football oval and indoor pool are all available to be leased.
"Now we have called for expressions of interest, we anticipate that we will be fielding inquiries from training organisations, government departments, local businesses, and community groups looking for an established facility in a great location," Mr Bramich said.
Conversations with potential users are already underway as the company proactively looks for tenants for the site.
"We have been encouraged by the response to date as businesses see the potential of the facilities and the Tamar region," Mr Bramich said.
"The accommodation and associated kitchen and dining facilities, plus the basketball court, gym, masters residence and wardens lodge have already been leased, which will give other potential lessees the confidence to invest at Beauty Point."
Mr Bramich said the company's interests are two-fold. Firstly to make better use of the facility and secondly to stimulate the Tamar region's economy.
The land is zoned residential. Just half the site is taken up by the college, with the rest left as open land.
Information on how to lodge and expression of interest can be found at www.beautypointtas.com. Expressions of interest in all or part of the available facilities close on Wednesday, November 13.
Traders in Purple is the company behind the $450 million Ridgeside Lane development near Evandale, and the $300 million Kings Quarter development in the state's South.
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