The former home of three sister dailies is set to become a 300-bed hotel after an apparent £10m deal for the building.
The ground and first floors of the site are currently being let to the Department of Work and Pensions for a temporary Job Centre to deal with a rise in unemployment due to the coronavirus pandemic.
But a four-star Maldron hotel, with a bar, restaurant and business facilities, is now set to open on the site, pictured below.
The Times understands the sale of Renfield Street was agreed for more than £10m with vendor Aegon Asset Management.
Angus Monteith, development director at MRP, told the newspaper: “The purchase is part of a major, long-term investment project for us in this area of Glasgow.”
He added: “Our development plans will revitalise an important area of the city centre and support its economic recovery, particularly following the pandemic.”