Providing active ground floor uses, which may include retail or commercial uses, the proposed development could generate around 250 construction jobs, including direct on-site jobs and jobs in the construction supply chain. This could be worth more than £10 million to the Glasgow economy during the construction phase, the developer added.

Serving to address a recognised shortage of student accommodation in the city, the public will have the chance to view proposals and provide feedback at two forthcoming consultation events.

The Archaos nightclub closed its doors in 2007 and has lain vacant since. It is in extremely poor condition and does not offer sufficient floor area or a suitable internal layout to provide a viable development opportunity for commercial or residential use.

Previous proposals to open the building as a nightclub and later as an office scheme floundered on the considerable costs required to refurbish a building that had deteriorated considerably over the years.

As one of the few viable options, student accommodation will aim to accommodate circa 230 students with fully serviced apartments and state-of-the-art amenity facilities.

Redevelopment of the site will act as a catalyst for regeneration in this part of the city centre. The site is within walking distance of Strathclyde University, Caledonian University, and the City of Glasgow College.

As part of the pre-application consultation process, two statutory consultations will be held for the project, the first on Wednesday 2nd November (4-8 pm) and the second will be held on Thursday 1st December (2-6 pm) at the former Bowery Bar, 35-41 Queen Street, Glasgow, G1 3EF.

Proposals will see a planning application submitted hopefully towards the end of the year. If planning permission is approved, the intention is for work to start on-site in 2023. The targeted entry date will serve the beginning of the academic year in August 2025.

CA Ventures have a proven track record in delivering sustainable buildings. An array of renewable and energy-saving technologies will be installed to minimise the carbon footprint created both during construction and when occupied.

A representative from CA Ventures said: “These exciting proposals represent a significant investment in Glasgow and will serve to regenerate a currently derelict site.

“They will serve to provide much-needed student accommodation in a building which has lain empty since 2007 and which, due to its condition, provide limited options for redevelopment.

“During a well-documented shortage of purpose-built student accommodation, potential students have no choice but to explore rental accommodation, which adds to the already significant strain on housing stock.

“We envisage this site as a perfect opportunity to add to the vibrant community of students currently living in central Glasgow, benefitting local shops.

“These proposals are at an early design stage, and over the next few weeks, we look forward to engaging in discussions with the local community about how best to progress this.”