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Under the plans, Schaw House, a large 19th century Tudor Gothic building standing two storeys high and featuring a spacious attic, will be carefully restored to retain many of its existing features and transformed into 23 stylish apartments.
Work will begin on the development, which will comprise two and three bedroom apartments, in Spring 2005.
Andrew Burrell, Managing Director of The Burrell Company, said: "Schaw House is a fantastic building with many outstanding period features. We bought the building recently after recognising its potential to be transformed into stunning living spaces."
"Combined with its excellent location in an extremely desirable area, we are confident the properties will attract a huge amount of interest from potential buyers."
Prices are expected to start in the region of £135,000, with the first phase developments set to be released in the summer.
The Burrell Company has over 20 years‚ experience sympathetically restoring and converting older buildings, including period properties and listed buildings, through design led development. Among the projects completed by The Burrell Company in recent years include the residential regeneration of category B Listed former Park School for Girls and the Piping Centre, both in Glasgow.
Three major buildings were also produced by the company at Homes for the Future along with some of the best architectural riverside accommodation at Carrick Quay.