I very much doubt it is worth more than the Sea Terminal but the fact remains that IOMG NEED to put offices outside Douglas for the benefit of the whole island.
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We seem to have accepted that IOMG will be the biggest, by far employer, of "Non Economically Wise Persons" so we have to put the "B stream" somewhere. To make the island's CS unemployed would crash the Ponzi Economy that we scratch by with.
Stick a couple of thousand of them in Ramsey and then we will see the benefit of extra footfall in the shops and Cafes in Ramsey.
Stick a couple of thousand of them in Castletown and again see the benefit of extra footfall in the shops and Cafes in Castletown, it may even keep the outside toilets open.
Stick a couple of thousand of them in Peel and we will see, well nothing probably, but you get my general point.