Property developer Urban Splash has revealed it is working up ideas for the former Mount Wise naval base, as the bidding war for the 30-acre site begins to hot up.
Urban Splash is the latest firm to express an interest in the former Maritime Headquarters site, which contains the 18th century Admiralty House, offices, underground bunkers, tennis courts and a cricket pitch.
They are the first non-Plymouth-based company to announce an interest in the site.
Plymouth-based Crownhill Estates and London and Westcountry Estates have already announced that they will be bidding.
There are believed to be at least two further bidders in the wings, including a national housing association.
Urban Splash is working on a seven to 10 year scheme to transform the Royal William yard into apartment, restaurants, bars and shops.
Jason Collard, Urban Splash's managing director (South West), said Mount Wise was 'a fantastic site'.
He added: "The vendors are aware of our interest, the local authority is aware of our interest. We have got some ideas for it which I think are probably not dissimilar to others, but we would go about it in a different way."
Mr Collard said the firm wanted more information about the site before making a bid.
The valuable site will be advertised for sale on the open market by Defence Estates later this month and will be sold by June.
A deadline for a public sector bid for the 30-acre site expired in January and the land will now to be sold to the 'highest acceptable bid'.
Urban Splash's expression of interest adds an intriguing dimension to the bidding contest, pitting the clout of a national brand name against the local knowledge of established city developers.
Mr Collard said that the Mount Wise site was one of a number Urban Splash was looking at in Plymouth.
He said there was a good 'fit' between the regeneration company and the city, that the firm was keen to develop further.
"We are interested in other opportunities. There are a number of different sites that we are continually reviewing," he said.
"We feel that Plymouth has helped the growth of our business and we want to maintain our interest in Plymouth."
Mr Collard said discussions were under way on several different sites, but that no contracts were likely to be signed in the near future.
He would not divulge the names of the sites, but said they included historical buildings to convert into apartments, modern conversions and 'new build' sites.