Project to be completed by 2021
A deal has been agreed for a site in Liverpool, to develop a new ferry terminal for trips to the Isle of Man.
The Department of Infrastructure has announced negotiations have been made with Peel Land and Property Limited.
The long-term leasehold ownership of Princes Half Tide Dock has been in the pipeline since 2016.
However original plans to have the project completed by 2020 have now been moved back a year, a schedule still subject to Tynwald approval along with the proposal's budget.
The acquired site is 800 metres downriver from the current terminal, which is due to be converted into a cruise liner berth.
Manx government plans coincide with the Liverpool Waters regeneration scheme, a £5bn project to transform the city's waterfront.
Although a deal has been struck, Liverpool's city council is yet to receive planning application.
DoI remain optimistic in securing the relevant approvals.
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