Shrouded behind scaffolding for more than a decade, one of Glasgow’s architectural gems has faced demolition threats, urgent repair notices and been branded one of Europe’s most ‘at risk’ buildings.

While inside, its once rich decor has faded; plasterwork is crumbling and paint is peeling, signs which hint at past uses - cinema, classrooms and tutor's rooms - are faded, and plants sprout from brickwork.

Despite its glorious facade, Alexander ‘Greek’ Thomson’s 19th century collonaded Egyptian Halls - regarded as a masterpiece of design - has seemed doomed to crumble and wither while debate lumbered on over its future.

Now after lying empty for more than 40 years, the A-Listed treasure appears to be on the brink of a new chapter which may finally see its future secured.

Conservation experts fighting for its restoration have secured funding to develop a business plan to examine how the landmark building can be revived - a vital route into securing funding for its takeover.

It is a major milestone after decades of wrangling and sets The Egyptian Halls working group, led by the Scottish Civic Trust, on course to wrestle it from its private owners and bring it into public ownership.

That, however, could be a messy battle: Dundee based property developer Derek Souter, who has owned the Union Street building with two others since 2000, said they are also in the midst of moves to secure a new future for the building, with plans which include turning the upper floors of the building into a hotel or apartments.

The long-running saga has spluttered along for decades, with the current owners facing defective building notices requiring urgent repairs, and dire warnings from their side of potential structural failure that could endanger passers-by and impact power supplies to nearby Central Station.

At one point, they suggested they may have to demolish it.

The working group say their plan will offer the public to suggest ideas for the building’s future. Previous suggestions include a history of slavery museum, while it’s also been said that its upper floor could be a glamorous rooftop bar, and lower floors a hotel or affordable hostel accommodation.

It could also return full circle: when the Egyptian Halls opened in 1873, it was a vibrant emporium of shops and stalls, exhibition space and lecture rooms.

The impact of the pandemic on city centre office accommodation, however, means it is unlikely to be developed for business use.

Fiona Sinclair, Chair of the Egyptian Halls working group, and a Fellow of the Royal Incorporation of Architects in Scotland, said: “Alexander “Greek” Thomson’s Egyptian Halls has long been a worrying building at risk, and yet the relatively open-plan nature of its floor plates makes it ideal for a range of exciting uses.

“There is no shortage of ideas for the re-purposing of this iconic, internationally-significant building, but the key is to deliver an end use that is sustainable, both in business as well as energy terms.

“We are hopeful that the development of a business plan will provide a realistic way forward, taking into account the changing nature of city centre buildings and the availability of funding for repairs as well as upgrading.”

“As well as being architecturally exceptional, Egyptian Halls is importantly located next to one of the city’s principal transport hubs, and surely has a role to play in addressing the climate crisis.”

Thomson designed the building in the early 1870s for an iron magnate James Robertson, and used cast iron and stone in its construction.

Its colonnaded facade with dozens of windows and elaborate decoration, was immediately hailed as one of his finest works, while thousands visited its shops, attended lectures or viewed antiquities and art in its large hall.

Eventually, however, the building lost its appeal. With no occupants, it was hidden behind unsightly scaffolding leading to it being named among Europe’s ‘fourteen most endangered buildings’ by Europa Nostra, a pan-European heritage organisation.

Costs of restoring it have been put at around £30 million.

The working group, which includes film-maker Murray Grigor and leading architect Scott Abercrombie, is forming a charity which aims to “protect, rehabilitate and preserve for the benefit of the public the historical, architectural and constructional heritage” of the building. Dr Susan O’Connor, Director of the Scottish Civic Trust, said a priority would be ensuring the building is financially viable.

“We are in a unique position where we are now thinking of what the city centre is going to be like in light of the climate crisis and pandemic,” she added.

“Inside, the Egyptian Halls are quite ‘open plan’ which means it is very flexible as well as being very beautiful.

“It’s an exciting opportunity.”

The business plan, funded by Glasgow City Heritage Trust and the Architectural Heritage Fund, paves the way for the group to approach the Heritage Fund, Historic Environment Scotland and Levelling Up Fund for help to take the building into public ownership.

Property developer and the building’s owner Derek Souter, said: “Any activity which raises awareness of the opportunities to both preserve and return the Egyptian to a sustainable and commercial future is welcomed.

“USP and USI - the co-owners - have again reached out to the Scottish Civic Trust offering to brief on a private and confidential basis on the current structural state, current scheme options, project costs to afford them the opportunity to maximise the budget they have secured.

“Also, since mid 2019, USP and USI via their professional team; Savills/TMP/WRD/Hardies have been working and collaborating with both Glasgow City Council and Historic Environment Scotland to scope a landing zone that would see a new planning application.

“Currently being worked through in parallel, are a raft of commercial enquiries primarily relevant to the development of the upper floors for hotel, aparthotel and/or residential.

“So, without any doubts, we remain committed to working with all parties to seek a viable means to restore the building and bring it back into beneficial economic use."