Royal Navy Dockyard
Today, the Royal Navy Dockyard is a thriving community hub for tourists and locals. It serves as the anchor of economic activity in the West End of Bermuda and has further cemented the economic stability of its surrounding area.
PROJECT SUMMARY
The Royal Navy Dockyard is one of Bermuda’s most historic sites, having served as the strategic Western Hemisphere base for the British Navy dating back to the American Revolutionary War. The Dockyard, managed by the West End Development Company (WEDCO), is a vibrant mixed-use development with retail, a cruise port and offices among other uses.
Lambert Advisory was engaged to provide market and financial analysis to a phased master development plan for the Royal Naval Dockyard and other lands controlled by WEDCO. The analysis identified viable real estate uses including residential, office, retail, spa, hotel/conference and marina. The primary objective was to provide WEDCO and potential investors a comprehensive understanding of the economic and market dynamics that would drive the development program. Lambert also provided the underlying assumptions used to determine the residual land value and general investor returns anticipated from the development plan.
