Government has confirmed that the Nunnery has been now been sold.
Tynwald agreed to the sale of the £5 million estate to the Manx Educational Foundation at its November sitting last year.
The property was deemed surplus to requirements.
Answering a question originally tabled by Lib Van leader Kate Beecroft at this week's sitting of the Keys, Treasury Minister Eddie Teare said the sale was completed on 30 January.
The property is now owned by the International Centre for Technology Limited, a private company backed by a number of Island firms.
The Manx Educational Trust is a shareholder in the ICT and it's now planned to create an IT training centre at the site.
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