Government says it's going to rent out Knockaloe Farm in the west of the Island to agricultural tenants.
The decision from the Department of Environment, Food and Agriculture comes after a wide consultation into future uses for the Patrick site.
One idea had been to turn it into a heritage centre celebrating its past as a World War One internment camp - but the department says it won't pursue any of the proposals.
It will, however, still host the Royal Manx Agricultural Show.
Illegal immigrant turned back at Manx border can't stay in UK
Bank scammers warning as calls target Island residents
Island to extend UK VAT cut on power, says Treasury Minister
Woman thanks mystery van driver after daring sea rescue
Stay off damaged slipway in Laxey, says local authority
MHK sues attorney general and returning officer over election votes
Islanders reminded to keep challenging domestic abuse beyond October