Government has granted the Manx Educational Foundation more time to secure the money needed to buy the Nunnery.
The foundation is said to be making ‘substantial progress’ with proposals to develop an international centre for technology.
However the Council of Ministers has now granted an additional three months – until June 30th - to raise the funds – after it agreed to sell the site in October last year.
To date the MEF has raised millions of pounds in funding from private sources on the Island and internationally.
Economic Development Minister John Shimmin says he’s confident the scheme will be realised:
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