After the Examiner reported this week that the Energy From Waste Plant was sold for over £25m, the full details of that sale have now been confirmed.

In our property sales column we said the plant had been sold for £25,724,562.

The government has now confirmed the sale was an internal transaction within Isle of Man Bank owner RBSI.

Isle of Man Bank Limited ceased to exist as a company last year as owner RBSI reorganised its business in the island.

After the plant was constructed by government in 2003/4, the site was sold in 2004 on a ’sale and leaseback’ basis for an initial period of 25 years.