The former marine laboratory in Port Erin has been sold by the Department of Infrastructure for £500,000.
It has been purchased by Delgatie Ltd. who plan to replace the existing structures with a 'mixed use development'.
An agreement has also been made to improve the land in front of the building, which will remain in the hands of the government.
Delgatie Ltd are a property development company founded last year operating in the Isle of Man and UK markets.
TT campsite for Ramsey Rugby Club?
Ramsey promenade could be getting a new TT campsite next year, if planners give the go-ahead.
40 dilapidated properties on council's list
The Island's capital city has 40 dilapidated properties, according to Douglas Council.
Island to remember its fallen
Services are taking place around the Island today for Remembrance Sunday.
MHK wants to know how many children choose school meals over packed lunch
An MHK wants to know how many students are choosing school meals over packed lunches.
More people eligible for jury service under new rules
Vicars and priests would be allowed to do jury service in future, under new rules that'll be discussed by Tynwald this month.
House plans for former motor museum site
The site of a former motor museum on Glen Vine could become four new homes, if planners back new proposals.
No DEFA info on halal slaughtering
The Department of Environment, Food and Agriculture says it doesn't collect data on Halal slaughter at the Island's meat plant.
Port St Mary roadworks start next month
Initial work on rebuilding Port St Mary High Street will start next month.
