The trustees of Clevedon's historic pier are to make a bid to take over a dilapidated seafront hotel after the firm behind plans to turn it into luxury flats went into receivership.

The volunteers responsible for managing the Grade II listed Victorian pier say they will try to buy the former Royal Pier Hotel, which is next to the landmark.

They decided to bid after it was revealed this week that, Royal Pier Hotel Development, which planned to turn the hotel into luxury flats, had gone into receivership.

Fourteen people had already paid deposits of about £25,000 – £30,0000 on flats due to be built, including businessman and Bristol Rovers director Barry Bradshaw.

The Royal Bank of Scotland, which announced in May 2007 it had agreed on a funding package for the development of the hotel, appointed Bristol-based Alder King as receivers on September 17.

Chairman of Clevedon Pier Trustees, Niall Phillips, confirmed the trust had written to the administrators to express their interest in buying the building.

The trust tried to buy the former hotel six years ago but failed and developers stepped in instead.

"We believe we are the only people who can offer a realistic solution to stop this situation continuing for another six years," said Mr Phillips.

"The pier desperately needs space for additional facilities like toilets, storage, officers and possibly a tea room.

"We do have access to resources, including the Architectural Heritage Fund, if the receivers set a sensible price."

The hotel was bought by the Hill family six years ago and North Somerset Council granted permission for 27 apartments and an underground car park in September 2006.

But work had still not started by March last year and concerned Clevedon people collected more than 2000 names on a petition pressing for work on the development to get going.

Earlier this year,Mike Davis of the National Piers Society, called for the development to start amid fears for the safety of the building and dangers it posed to the adjacent pier.

Mr Phillips said: "We have been in contact with commercial partners in the past, including a destination restaurant and hotel firm, to use the rest of the building we wouldn't need.

"If building flats here proved unviable during the biggest property boom era in history, I can't see any chance of anyone being able to take it on in the current economic climate we are faced with."

News that receivers have been brought in comes weeks after the council issued an urgent works notice to the building's owners, saying it would step in and repair the hotel if the owners didn't take action.

No one from the Hill family was available for comment.