One of Douglas’ most famous vacant buildings has been bought.

Paramount City, on Queen’s Promenade had been on the market for £500,000 since January 2019.

Estate agent Cowley Groves, which has negotiated the sale, said: ’We are delighted to be part of the sale and are looking forward to seeing what the future holds for this landmark building!’

The company said it was not able to say who had bought the building, but did confirm it is a ’private individual’.

Once a very popular nightclub, the three-storey building has been closed for some time and requires major works.