Plans for a major complex in the centre of Douglas have moved a step closer.
Government and developers Askett Hawk have exchanged agreement to regenerate the Lord Street bus station site.
A development is planned comprising a 120 bedroom four-star hotel, apartments and restaurants overlooking the inner harbour, as well as retail units on Lord Street with 150 parking spaces.
The site has been vacant since the decaying building at its centre was demolished and replaced by a 'temporary' car park.
Infrastructure Minister David Cretney says it’s welcome news.
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