The plans will see the creation of a mixed-use community, creative and heritage hub as part of a new £15 million project.

SHBT will now push on with plans to restore the building and improve its energy efficiency using renewable sources where possible.

The City of Edinburgh Council own the building, having purchased it with £650,000 from the Common Good fund in 2015, and will lease it to SHBT for an extended period to 2025, followed by a 99-year lease when funds have been raised.

The plan is to make the entrance to Custom House a welcoming and inclusive space with heritage displays throughout, which the council’s Museums and Galleries Service will assits with.

According to The Edinburgh Reporter, the plans also include flexible accommodation for community groups and creative businesses.

Maggie Wright, chair of Scottish Historic Buildings Trust, said: “We welcome the committee’s decision to continue its relationships with Scottish Historic Buildings Trust as we move  forward to secure the long term future of Leith Custom House, which has had a significant role within Leith since the early 19th century.

“It is a huge vote of confidence in the expertise of our Trust, following on from our successful restoration of Riddle’s Court in the heart of Edinburgh’s Old Town. Our proposals will give the building a sustainable future as well as creating a legacy for the community of Leith and beyond for generations to come.”

Cron Mackay of the Leith Civic Trust, added: “The community of Leith is delighted and relieved to see the plans for Leith Custom House get the go-ahead. We have been involved with the consultations on the future of the building, and it is wonderful that the project can now move forward. The Custom House will provide a space to tell the many different stories of Leith, in a rejuvenated building that serves the community of Leith and visitors alike.”

Council leader Cammy Day concluded: “This is great news for Custom House and the Leith community. The lease to SHBT makes sure this venue has a bright future as community, creative and heritage hub for the area and I very much look forward to the opportunities this space will bring.”