Spectrum Properties has purchased Mansion House in Tollcross Park, Glasgow, from Shettleston Housing Association.
The family-owned company paid an undisclosed sum to save the building and plans to spend £1m to convert it into 13 apartments for rental.
The Mansion House was built by the architect David Bryce for the mine-owning Dunlop family 174 years ago. It features classic crow-stepped gables, corbelled turrets and pointed roofs.
The new homes will be served by a private road sweeping through the park.
Spectrum Properties has preserved much of Glasgow’s Victorian architectural and industrial heritage and has invested tens of millions of pounds in saving and repurposing properties of recognised architectural merit across Edinburgh, Glasgow and Stirlingshire.
Managing director Bill Roddie said: “The Mansion House is a quite spectacular property, built in a distinctive Scottish style and set on the summit of what was then the Dunlop family’s private estate.
“It has had its ups and downs over the years, and at one stage was facing demolition before it was preserved by a far-sighted restoration project which was completed nearly 30 years ago.
“When completed Tollcross House will be the centrepiece of the park and will complement other improvement work, such as the £1m restoration of the winter gardens glass house, which is a classic example of its kind.”
It is anticipated that the new properties in the Mansion House will be ready for market by the end of next year.
Spectrum Properties moved into residential development in the last 10 years, its primary focus remains on commercial property. It owns around 700 commercial properties across the city, comprising 70% of its group holdings.
Spectrum Properties directly employs 75 people and the same number of sub-contractors. It is actively recruiting to cope with rapid expansion.
Established by Roddie in 1988, the company now has a portfolio valuation of £60m and a turnover in excess of £5m.
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