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.
Your plaice or mine? None next year, say scientists!
A leading scientific forum says no plaice should be caught in the waters around the Isle of Man next year.
Creamery director calls time on a grate career
The managing director of the Isle of Man Creamery has announced he is standing down.
New video warns drivers de-restricted doesn’t mean no rules
A new video explaining the Isle of Man's de-restricted roads has been released by motoring community Petrolheadonism.
Education review praises schools but identifies four areas for improvement
Four key areas for improvement have been identified in an independent review of education on the Isle of Man.
Infrastructure Minister says major roadworks are coordinated
Infrastructure Minister Tim Crookall says major roadworks aren't done in isolation by his department.
New Manx law protects vulnerable thresher sharks
The government's granted new legal protections for thresher sharks.
Time Out Noodle Bar coming to Peel
An Isle of Man noodle bar is expanding, with a new location set to open in Peel.
Government could cash in £852.6m assets within 10 days
The Isle of Man could find more than £850 million in just over a week if it needed to, according to Treasury Minister Chris Thomas.
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