Developing the demolished Summerland site for tourism or leisure use is the priority, the Tourism Minister has vowed.
In Tynwald, Adrian Earnshaw revealed he hoped to progress discussions with interested parties in the near future.
But he admitted there were no firm plans yet for the vacant site on Douglas promenade:
"We do have a housing crisis on the Isle of Man" says expert
Average house price currently eight times more than the average annual earnings
Bill banning sale of nicotine pouches to under 18s due to get Royal Assent in November
It comes after schools warn of increase in students using them
Government funds 'not being allocated properly'
Daniel Davison says there aren't proper safeguards against overspending
EAC to host special Hop-Tu-Naa screening of horror classic
1973 film The Wicker Man on the big screen this weekend