A deal has been agreed for the purchase of the Prince's Half Tide Dock in Liverpool, to develop a new ferry terminal.
The Department of Infrastructure confirmed negotiations have been made with the owner Peel Land and Property Limited.
The Initial decision to buy the land was made by Tynwald in July 2016.
The new site is scheduled to open in 2021.
Chance to meet the tram horses in Douglas
Want a chance to say hello to the tram horses in their stable this summer?
Petition to ban cyclists from Mountain Road passes 500 mark
An online petition calling for cyclists to be banned from the Mountain Road has reached more than 500 signatures.
Online petition calls for ADHD diagnosis changes
An online petition is calling on Manx Care to improve how adults are diagnosed with ADHD.
Historic estate in the north up for sale
A huge estate in the north of the Island is up for sale - complete with 450 acres of land and three homes.
Island's air ambulance transported 73 patients in May
Patients transported by the Island's Air Ambulance service were most commonly suffering cardiac problems, according to the latest statistics.
Minister names politicians who got free VIP TT hospitality tickets
The Department for Enterprise has named six Tynwald members who received free VIP tickets for TT hospitality this year.
Closed roads in St Johns for Tynwald rehearsal on Sunday
A rehearsal for Tynwald Day means roads will be shut in St Johns this weekend.
Red Arrows display cost just under £16,000 says department
The Department for Enterprise says the Red Arrows TT display this year cost just under £16,000.
