Site placed on market by Douglas Council last year
Douglas Council has accepted an offer on the Lord Street flats.
The former social housing block went up for sale in November last year following the completion of the new apartments on Peel Road.
The council says proceeds from the sale will be 'reinvested' into future housing projects and its general maintenance and refurbishment programme.
It added the details of the offer are commercially sensitive, but more information will be released on completion of a contract.
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