The A-listed Egyptian Halls building, designed by renowned architect Alexander “Greek” Thomson, has been empty and derelict for decades but the council is looking at using a Compulsory Purchase Order to take it over.

As part of the process, the council is looking for a developer to come forward with a proposal to bring it back into meaningful use.

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Applications are invited with a deadline of October 17.

The brochure by Ryden, under instruction from the council, describes the six-storey Union Street building as “a unique architectural and historic asset” with the council prioritising its “repair, repurposing, and future active reuse”.

In February this year, the council agreed to look at CPO powers to take it over after decades of inaction from the current owner.

Its intricate and distinctive stonework is currently hidden behind scaffolding.

The building was built between 1870 and 1872, a “hallmark” of Thomson’s distinctive Greek Revival style.

The brochure states: “It remains internationally recognised as a masterpiece of Victorian architecture.”

Last month, it was decided an incentive of £150,000 will be on offer to the developer chosen to revamp the historic landmark.

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The building is currently owned by two companies — Union Street Developments and Union Street Properties — both run by Dundee businessman Derek Souter and his partners.

They will also be invited to submit proposals to the council and are able to sell the property voluntarily at any point until the CPO is secured.

Councillor Ruairi Kelly, Convener for Built Heritage, Housing and Development at Glasgow City Council, said: “This is a key milestone in our efforts to return the Egyptian Halls to full life and restore their rightful place as an architectural treasure of national significance.

“Securing a commercial operator to take on the repair and reuse of the Halls is a core part of the CPO process which began earlier this year. In gauging the market interest we’ll know what the opportunities for the future of this architectural gem can be.

“Right now, the transformation of our city centre is gathering real pace. Giving the city’s built heritage new purposes and new futures is part of that and I’ve no doubt the Egyptian Halls can be a centrepiece in the Glasgow of the 21st century.”