Douglas Council says it's accepted an offer to buy landmark flats in the centre of the capital.
After putting the Lord Street complex on the market last November, the local authority says it's accepted an offer for the site.
The council says it can't reveal who's made the offer, which is still subject to contract.
But it says money from the sale will be used for future housing projects in the city and it will release more details once contracts are signed.
High street building up for sale
A high street building in Ramsey is up for sale - containing a shop and apartment.
Santas on a Bike has raised over £22k weeks before event
A festive fundraiser for Hospice Isle of Man has already raised more than £22,000 - and there's still over two weeks until it takes place!
Air Ambulance patients need photo ID
The Island's air ambulance service is asking relatives to remember to bring photo ID if their loved ones are flown for treatment across.
Kids can design the police's Christmas card
Fancy designing a Christmas card for the police?
Discussions still ongoing to help MiCard users
Treasury Minister Alex Allinson says discussions are still taking place to help those without bank accounts when benefits and pension payments go electronic next year.
Two ferries cancelled due to weather
Two ferry sailings overnight have been cancelled
Tynwald fails to pass Area Plan after combined vote
Tynwald has failed to pass the Area Plan for the North and West.
Minister says she's meeting with vets to help farmers
Agriculture Minister Clare Barber says her department is meeting with the Island's vets.
