More than £5 million has been raised by the sale of government land and buildings since the strategic asset management unit was set up in 2010.
And it is planned the unit, part of the Department of Infrastructure’s asset management, will have sold off a further £2m worth of property by the end of the 2013-14 financial year.
Infrastructure Minister David Cretney MHK said: ‘Since formation, the strategic asset management unit has worked across government and the statutory boards to assist in bringing forward sites for either disposal or development and in addition to the disposals there are now a number of sites cleared or in the process of being cleared to facilitate future development, such as the Victoria Road prison, Park Road school and the former abattoir site at Tromode.
‘In addition to reducing ongoing liabilities and providing a capital receipt to government, a number of the properties sold have already been refurbished by their new owners providing valuable opportunities within the construction sector.’
Assets sold include four Manx Electricity Authority shops, 21 Athol Street and Peel bus depot.
In addition, land at Balthane has been sold and has now been developed with units on it.
More than £700,000 has also been saved following a review in the cost of government office accommodation.
Meanwhile, Treasury Minister Eddie Teare has announced capital spending by departments in the last financial year was £17m under the overall Budget agreed by Tynwald.
For 2012-13, it was £41m compared with budgetary provision of £58m.
In addition, the Water and Sewerage Authority and MEA spent £18m on capital schemes. And spending on local authority housing schemes totalled £14m compared with budgetary provision of £18m.
Mr Teare said: ‘I am pleased departments have ensured government capital schemes have all remained within their overall Tynwald approvals.
‘It is appropriate departments continually review the need for schemes included within the capital programme and this may delay commencement of such schemes.
‘However, Treasury continues to work with departments to identify schemes that can be commenced earlier than originally planned to ensure government continues to provide opportunities for the local construction industry.’
He said it was ‘inevitable’ some schemes would proceed more quickly or more slowly than originally anticiapted.