The much-loved seafood diner overlooking Havelet Bay burnt down in February 2024.
The remains of the building were demolished, and for the last 18 months the site has remained empty.
Joanna Watts, managing director of Watts Property Consultants, said that development-wise this was the premier site in Guernsey.
‘It’s a blank piece of paper – we see it as a passion project for someone keen to leave a strong legacy for many years to come,’ she said.
‘Octopus was such a popular venue for so many and there is no doubt the Guernsey community will be extremely supportive of the site coming forward with an even more exciting iteration of what went before.’
Ms Watts said initial discussions with Planning had indicated that there is opportunity to create a multi-storey building on the site. Architectural concept modelling has suggested that the site and its location could accommodate up to four and a half storeys.
‘Whatever comes next will have to be an iconic structure of strong architectural significance, but planning policies do promote vertical structures, so we do not see this as a concern.
‘It’s also zoned in a Main Centre which opens the door to pretty much any use class, whether this be food and beverage, tourism, high-end residential, leisure or a complementary mix.’
At the time of the fire the site was owned by Deputy Yvonne Burford, although the restaurant was run by long-term tenants Mickael Pesrin and Delphine Pesrin-Auder.
In the aftermath the Pesrins, who had run Octopus since 2016, assured customers that it would return, albeit after a lengthy closure. They have continued to run Dhaka in Le Truchot, the site of the former Petit Bistro, as well as opening the artisan bakehouse 2 Frenchies on Rue du Pre at the end of last year.
Deputy Burford then sold the site to The Pesrins, as M&D Ltd, for £1 last summer. Neither party has commented on the circumstances that led to the sale.
The police investigation into the blaze found nothing suspicious and was closed in May 2024.
The site is advertised as ‘price on application’ and Ms Watts said the unique nature of the opportunity meant she was expecting healthy bids. She said it was a certainty that the site would attract a premium price.
‘We have had strong interest already and, as it’s the chance for someone to play a significant role in contributing to Guernsey’s future heritage, and to build something truly noteworthy, it is exciting to see where it will land.’
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