It is hoped that work will start in autumn this year and will see the resurfacing of the pavements with high-quality stone, the installation of new granite kerbs, seating at appropriate locations along the street, “low-level greening solutions” and dropped kerbs.

A section of footway in Wellington Street up to Waterloo Street is also part of the proposal.

The proposal also states that redundant street objects will be removed and there will be an integrated approach to the design and siting of required street furniture, ReGlasgow reports.

A report to city councillors reads: “The aspiration to invest resources in Cadogan Street has evolved as a consequence of a number of factors. Some of these can be traced back to the 2008 economic crisis and the detrimental effect on the demand for office space at this location, which resulted in limited investor confidence in the street.

“Despite some regeneration activity which has led to the refurbishment of vacant office buildings and new developments on the ground in recent years, property investors have reported how the current poor conditions of the public realm in Cadogan Street are significantly limiting the potential for further investment. This is affecting the regeneration of the street and the surrounding area.”

The report states that the provision of a “quality public realm” at Cadogan Street will create an “improved, high quality, well-functioning environment to complement the established identity and world-class reputation of the IFSD as a business centre while supporting investments on the street”.

The proposals also indicate that the improvements will enhance the connectivity of the area through the existing network of streets. The changes to the street will also maximise accessibility and encourage active travel opportunities for pedestrians.

It is also anticipated that the proposal will act as a catalyst for sustainable economic growth in the city, by creating the conditions to attract inward investment which will enable future job creation.

The report concludes: “This will contribute to make Cadogan Street economically resilient for businesses to locate here and thrive. The proposed investment is also expected to increase the marketability of the council-owned Anderston Centre on the western side of the street.

“The proposed public realm intervention is developed collaboratively in consultation with local investors. Its emphasis is on a design-led approach to place-making, with the objective of making, Cadogan Street people-friendly, more attractive, greener, sustainable and more economically competitive and accessible for all.”

Councillor Kenny McLean, city convener for housing, neighbourhoods and public realm at Glasgow City Council, said: “The creation of this new high quality public realm will attract investment and jobs to Cadogan Street itself, as well as the wider district. In addition, the street will be greener, better connected to the surrounding area, more sustainable and able to adapt to current and future challenges.”

The project will be discussed at a city administration committee meeting tomorrow.