The government is talking to the Manx Education Foundation about the possibility of selling the Nunnery, just outside Douglas town centre, to develop as a venue for its ‘International Centre for Technology’.
In the past, the MEF had earmarked the Castlemona Hotel for its venue.
But it has now ditched that idea.
If certain conditions are met, the MEF will buy the site for £5m. There will be no discussions with any other prospective buyer during a six-month negotiation period.
If successful in buying the site, the MEF will then spend millions of pounds developing the International Centre for Technology as a facility for information and communications technology (ICT) training and tertiary education for ICT and business.
It would also provide wider benefits, including helping to raise the profile of the Isle of Man’s e-business sector, which is forecast to be the largest source of growth over the period to 2020 and which will require many more skilled ICT workers such as those the MEF hopes to produce.
More on this story in tomorrow’s Manx Independent and Monday’s Examiner.