The historic quayside building which housed the Douglas Hotel will have a new tenant by the end of the month with a retail outlet to occupy the ground floor later in the year.
As we previously reported ‘corporate solutions’ business ICM will be the first tenant in the 21,000 square foot building.
A spokesman for the site owners Heron and Brearley said: ‘The first tenant is scheduled to be moved into the building by the end of August.
‘With regards to the remaining space, there will be some sort of retail outlet going on the ground floor later in the year but we cannot give any further details at present.’
The Douglas Hotel was built in the mid 18th century and was the home of Ulster merchant Robert Black and, later, the Duke of Athol.
It became the Douglas Hotel around 1900 and stands above vaulted cellars dating from 1560.
It was run as a pub by Heron and Brearley but closed several years ago.
The development extends next door to the old Isle of Man Farmers shop.
Last year, the pub on the other side of that, the Clarendon Hotel, was closed.
At one point H&B had plans for a microbrewery pub on the site but the company has since dropped that idea.