AN important city centre building which is unsafe and almost derelict could be demolished and replaced with serviced apartments.

The B listed property on West Regent Street has not been maintained by a series of previous owners.

A report to the city council says it is now in an advanced state of dilapidation with peeling paintwork and crumbling stonework.

Water ingress through the leaking roof has resulted in extensive damage and dry rot.

The second floor has partially collapsed onto the floor below and parts of the building are considered unsafe.

The report says: “The building both internally and externally could best be described as not maintained, structurally compromised and bordering on derelict.”

Glasgow based Suite Street Hotels bought the property with a view to redeveloping the existing building but cost ruled that out.

The report says: “We believe the only financially viable solution would be to demolish the existing building and propose a new building in its place.”

Plans have now been lodged with the city council to clear the site and construct more than 50 serviced apartments with a ground floor retail or commercial unit.

Councillors will be told: “Not only is saving the existing building at 141/143 West Regent Street economically unviable, it is also currently having a detrimental effect on the surrounding properties physically, environmentally and economically.

“In it current condition, the building is unsafe for occupation, at least in parts.

“A new building would offer significant benefits to Glasgow City Council in terms of enhancement to the surrounding area, removal of what has become an eyesore, provision of high quality retail/commercial space on ground floor, provision of high quality upper floor serviced apartments, promotion of tourism through provision of quality accommodation and income via commercial rates.

“We believe provision of a new, efficient building of high visual quality on this prominent corner is the only viable option for redevelopment and hope Glasgow City Council will see this as an opportunity to enhance this area.”