The proposals for the specialist science innovation and research centre follow a recent change in legislation to allow cannabis to be grown on the Isle of Man and exported, as the island seeks to become a leader in the emerging medicinal cannabis sector.

Peel NRE’s planning application includes detail for the first phase of the development, including two units for the cultivation facility as well as an access road, engineering works and preliminary landscaping.

Its plans include a sustainable energy park with a solar farm generating 11-14MW to help power the site.

Garry Stewart Design Associates is the architect for the scheme.

Located at the corner of Cooil Road and the A5 (New Castletown Road), the proposed development will help the Isle of Man develop home-grown talent that will contribute to cutting-edge research into cannabinoids for pharmaceutical uses.

Myles Kitcher, managing director of Peel NRE, part of Peel L&P, said: “This is a game-changing opportunity for the Isle of Man to get ahead in a new and exciting industry that will bring many benefits to the Island and its people and we also hope that it will encourage more renewable projects in the area.”

Dr Alex Allinson MHK, Minister for Treasury said:“The development of the Island’s medicinal cannabis sector is a key part of the Government’s ambitions to diversify the economy as well as creating a vibrant new sector to attract more investment and skills to the Isle of Man.

“We are looking to create a world-class infrastructure and continue to welcome interest in developing this sector further.”