The monument will be to the divers who trained at HMS Vernon, which used to occupy the land where the shopping centre was built.

The rough shape of how the piece of art will look has already been agreed but a shortlist of variations has been drawn up and one artist will be picked to design and build the statue paying tribute to mine clearance divers and mine warfare specialists.

The Customs House pub already bears a plaque marking the daring deeds they undertook, and antique torpedos line the walk way to the harbour.

But within a few months they will be dwarfed by the outline of a diver on a plinth, working to defuse an explosive.

David Carey, project manager for the Vernon Monument, said: 'This statue will be a point of honour for the people who worked and trained at HMS Vernon.

'The work we did forged a strong bond among comrades and we are looking forward to having a tribute to the site's former use.'

The 52-year-old served in the navy from 1975 until 1993, qualifying as a Ships Diving Officer in 1978 at HMS Vernon.

He was then a mine warfare and clearance diving officer in 1984, was deputy head of the Minewarfare School at Vernon from 1989 to 1991 and retired as a Lieutenant Commander.

He said: 'The design we are working on is intended to show the relationship between the clearance diver and the mine.

'Clearance divers have to work in all weathers and all combat situations – there isn't an option to say no.'

The sculpture will be made of bronze and will stand about 15ft high. It will be put up with the blessing of Peter Emery, centre manager of Gunwharf Quays.

He said: We are very aware of the unique historical legacy and nautical heritage of Gunwharf Quays.

'Working in close partnership with Portsmouth City Council we are looking forward to having the monument mounted in the centre of the old site.'

Commander Paul Jones, chairman of the Minewarfare and Clearance Diving Off-icers' Association, said: 'This is a special challenge we have considered undertaking for many years.'