Port St Mary Commissioners have completed the purchase of Manxonia House in Bayview Road, Port St Mary.
The Commissioners purchased the property from Deorum Ltd, a company controlled by the family of the last occupying owner, who operated a legal business from there.
The Commissioners intend to refurbish the property bringing it back into use as a shop, a flat above and an office.
Speaking today Mrs Bernadette Williams, Chairman of Port St Mary Commissioners said, "The last Government invested heavily in the regeneration of the centres of our towns and villages. With this considerable investment we are following that lead and supporting our local retailers by making the village centre a more desirable place in which to shop.”