The Arts and Islands Foundation has applied for planning permission to take on the building for two years, to allow islanders to follow the construction of a Chinese junk art project.
But Treasury and Resources is in charge of the building and a spokesman confirmed that all options would be considered when looking at the building's future.
'The long-term future of the building is yet to be decided, and will likely be influenced by discussion with the harbour and planning authorities around the Ports Master Plan and the forthcoming new Island Development Plan,' he said.
'The States should then be in a position, at the appropriate time, to give full and proper consideration to the most efficient and beneficial long-term use of this property for the island.'
A commercial property agent valued the site and, while the Arts and Islands Foundation is a charity, founder Eric Snell, pictured, confirmed it would pay rent for the two-year tenure, which was only just below the market rate.
