Progress made by government in cutting the amount of office space it rents and the number of buildings it owns has been welcomed by Chief Minister Allan Bell.
In recent years government has reduced annual spending on rentals by more than £700,000 and expects to more than double these savings by 2018.
It has also disposed of over £5.1 million of surplus property in the last two years against an initial target of £4 million for the period.
Recent disposals include Peel bus depot, the MEA showrooms, industrial development land at Balthane and an office in Athol Street, Douglas which is now the global headquarters of an international investment firm that has relocated to the island.
Mr Bell said the initiative was good for the overall economy, freeing up space for private sector expansion, as well as producing capital income and revenue savings for government.
He said: ‘This is a truly cross-government exercise with all departments engaging to help make the most of the island’s property resources. Disposals so far include former police stations, doctors’ surgeries, bus depots, electricity retail outlets, office premises and under-utilised land and buildings.
‘It should be emphasised, however, that the disposals are part of a considered strategic programme. Sites and buildings that are identified as key to the delivery of government services into the future will be retained.’
Government is also looking to driving costs down by consolidating operations within the properties it owns.
Examples include the Fire and Rescue Service moving to the DHA headquarters and the Insurance and Pensions Authority relocating from HSBC House to Finch Hill House.