Government has confirmed it has offered the Manx Educational Foundation the chance to purchase the Nunnery site for £5 million.
The site has been earmarked as the location for the multi-million pound International Centre for Technology.A six-month period of detailed discussions has now been entered into between government and the MEF.
During this time there will be no discussions with any other perspective purchasers.
If a number of conditions are met the MEF will make the purchase and work will start on transforming the site.
Economic Development Minister John Shimmin has branded a fantastic opportunity for the Island:
Cider microbrewery planned for Ballasalla
Covid wrongful arrest and torture claims thrown out by court
Tree fellers to close part of TT course on Thursday
Manx Utilities wants contractors for HQ refurb
Business needed for Peel coffee shop's 'new chapter'
Regulator freezes gas prices
Billionaire says Island's his favourite place on earth
Planners aren't influenced by advertising, says Cannan
