Promenade building has been on the market for almost 2 years
A once-popular Douglas nightclub has sold for over half a million pounds.
Paramount City, once known as the Crescent, has been bought by an unknown buyer for a price of £550,000.
Cowley Groves billed the property on Queens Promenade as a "unique opportunity" when it first came on the market in January last year.
Plans for the three storey building are yet to be announced, however the estate agents said it will be in need of a 'total refurbishment'.
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