Island based Altostratus Limited has announced plans for the redevelopment of the Middlemarch site in lower Douglas.
The company, which has an address on Amber Street, Douglas, has also agreed a deal to buy the once acre site.
Subject to obtaining the necessary planning approvals, Altostratus wants to build offices, a 250-space multi-storey car park, and a three-storey leisure and entertainment complex incorporating a casino on the site which
John Bell the Project Manager for ADG Architects, said: ‘The proposed development at Middlemarch will be one of the biggest commercial schemes seen in the town centre for several decades and will help link the growing leisure offering on the North Quay with the well-established shopping and business districts in Lower Douglas.
‘Subject to obtaining the necessary approvals to move their casino licence, Palace Hotel & Casino Limited will be an anchor tenant for the development, with two of the three floors in the leisure complex earmarked for their casino, conference, and entertainment offering.
‘Altostratus is working closely with the Manx Development Corporation (MDC) to ensure that the scheme fits well with MDC’s wider aspirations for the Lower Douglas area. Further discussions will take place with MDC over the coming weeks ahead of the formal planning application being lodged later this year.’
The site itself was sold by the Manx gov to a company called Middlemarch Limited, a subsidiary of Auldyn Properties Limited, which was the largest shareholder int he Sefton Group, for £3,966,540in May 2019. This came after the gov bought it from the Sefton Group in 2013 as part of a £3.2m controversial bailout of the group by Allan Bell’s administration.
Images from the developer show that the former Police Station will be staying put.