The Nunnery says it wants to be able house food and drink outlets, shops, clinics and childcare facilities in future.
The International Centre for Technology has applied for planning permission to change the use of the site.
It says it wants to do so after the Isle of Man College announced it would pull out of the campus last March.
It's now submitted a planning application which would, if approved, bring new uses to the Old Castletown Road site in Douglas.
New survey to gauge how confident businesses are
A new government survey's been launched to measure business confidence on the Island.
Tynwald to consider scrapping some government agencies
Should government agencies in the Department for Enterprise be scrapped?
Bank deposits up by nearly £3 billion on last year
The Island's finance regulator says almost £3 billion more has been placed in banks here than this time last year.
Island sanctions Israelis for Palestine human rights breaches
Two Israeli individuals and three companies have been added to the Island's sanctions list over their involvement in human rights breaches against Palestinians.
Last chance to give government your views on high streets
There's still time to let a government body know what you think about the Island's town and city centres.
Regulator releases new anti-money laundering guides
The Financial Services Authority has released a series of guides to help companies understand new anti-money laundering guidance.
New advice for businesses on company ownership laws
An Island regulator has released new guidance about laws which make it easier to identify who owns and controls companies.
Are you loyal to your bank?
Can you help a market research company understand customer loyalty on the Isle of Man?
