The £100 million Atlantic Square project, a joint venture between developers BAM Properties and Taylor Clarke, will result in around 300,000 sq ft of high quality office space 20, one and two bedroom flats and a restaurant being built.

The project, which is bounded by York Street, Argyle Street, James Watt Street and car park access ramps, will involve building a six storey block of flats as well as a seven storey and 10 storey office blocks.

Substantial new public realm including feature lighting, seating areas and high quality planting will be part of the scheme.

The site is within the central conservation area and next to a number of listed buildings, including a substantial category A listed facade which will be incorporated into the development.

Glasgow city council development and regeneration director Richard Brown said in a report: “The site has been vacant for several years and in its current condition, significantly detracts from the character of the conservation area in this locality.

“It is anticipated development of the site as proposed will significantly improve this situation.

“The proposal involves the re-use of a brownfield site in close proximity to the river-front which has lain vacant for almost 20 years for a high quality modern office and residential development.

“The proposed development will contribute to the increasing number of high quality contemporary buildings available within the city centre, further supporting Glasgow’s continued growth as an attractive place to live, work, shop and socialise and as a secure and competitive place to invest.”

The design of the new development was undertaken by architects Cooper Cromar and will include the retained façade of the listed warehouse buildings on the site that were built in the early twentieth century.

The value of the completed development is estimated to be more than £100m and its creation will support up to 2,750 jobs.

Work on the development will start immediately, subject to the necessary planning consents being secured.