The Talisman Resort in Grey Highlands is getting a new lease on life.

The resort closed in 2011 and was falling into disrepair. The Township of Grey Highlands took over the property after previous efforts to find a buyer failed.On Monday, they announced that a buyer has been found.

The new ownership group, which is headed by Brian Ellis, is promising to develop it into a hotel and spa resort with a convention centre. The group also says it will renovate the main lodge of the resort as well as rooms on the property.

There are also plans for an education and training centre for the hospitality industry on the property.