Plans to demolish the iconic National Savings and Investments building near Silverburn shopping centre to make way for more than 500 homes have been lodged with Glasgow City Council.

Last year the Evening Times revealed that the state-owned structure in the south side, thought to be worth £10million, was to be sold off.

It was built in the 1960s to accommodate more than 6000 staff who worked for the then National Savings Bank.

By the time it shut last year only 600 employees remained. They have been decanted to offices in Glasgow city centre and East Kilbride.

Housebuilder Persimmon now wants to press ahead with a ten-year plan to flatten the monolithic structure just off the M77 and build 512 homes.

The £75million investment in the 49 acre Cowglen site could create up to 1,200 jobs, according to the developers.

One and two bedroom flats and two, three, four and five-bedroom homes will be constructed on the brownfield site around four miles from the city centre, if Glasgow City Council gives the green light.

The local authority recently unveiled plans to deliver 25,000 new homes by 2025 to meet the demands of a growing population.

Doug Law, managing director at Persimmon Homes West Scotland, said: “We are committed to building high quality homes in sought after locations and our investment in Glasgow forms an integral part of our expansion programme to bring further new homes to the region to meet the growing demand.

“Our plans include homes to suit a range of buyers, from those looking to get on the property ladder to families seeking more space as they grow.

“The area has terrific motorway links and is close to local shops and amenities, so offers something for everybody.”

He added: “The overall regeneration of the area, which includes the former National Savings and Investments buildings, is expected to take 10 years.”

A spokesman for National Savings and Investments confirmed the completion of the sale of the site and relocation of staff.

He said: “The site in Glasgow dates back to the 1960s and is much larger than our business now requires.”

The spokesman also confirmed that proceeds from the sale were “returned to HM Treasury”.