Douglas Council says it's accepted an offer to buy landmark flats in the centre of the capital.
After putting the Lord Street complex on the market last November, the local authority says it's accepted an offer for the site.
The council says it can't reveal who's made the offer, which is still subject to contract.
But it says money from the sale will be used for future housing projects in the city and it will release more details once contracts are signed.
Beauty brand Charlotte Tilbury launches at Boots this weekend
The wait is finally over - Charlotte Tilbury is launching at Boots this Friday.
Isle of Man Energy confirms no gas price rise
Isle of Man Energy says gas prices will stay the same for customers despite rising wholesale costs.
Countdown on for World Downhill Skateboarding Championships
A huge skateboarding event has released a video looking forward to this week's action on the Isle of Man.
Laxey's La Mona Lisa changes hands after 22 years
The owners of a long-running Italian restaurant are handing over the reins.
Cruise ship to visit the Island today
A cruise ship carrying more than 1,000 people is due to visit the Island's capital today.
MHK says minister could have avoided blushes with earlier warning
Arbory, Castletown and Malew MHK Jason Moorhouse says his blushes could have been spared if a minister had contacted him earlier about a question in the House of Keys.
Bad weather means two ferry crossings cancelled
Two ferry sailings have been called off in the face of bad weather tonight.
Commissioner hits out at "nuisance" campervans
Are camper vans becoming a problem in Onchan?
