The company has purchased the former Department for Work and Pensions building on Dock Street in a deal worth over £500,000.

The purchase is the first major acquisition since the company announced plans to revive McGill Homes earlier this week.

McGill owner and CEO, Graeme Carling, said: “We are excited to make this acquisition and announcement, which will confirm our intent to refocus McGill Homes on conversions rather than new builds. We looked at the site a number of months ago, and it is the perfect project for our business.

“Although McGill works across the country, it is great to announce our first major development in Dundee, and be part of the continued re-development of our waterfront.”

McGill chairman, Syd Fudge OBE, added: “The project will convert the existing commercial property into residential units and work has already started to set out our plans for the development. It is a fantastic site in a prominent waterfront location and our development will maintain the stunning features of the building.

“These types of conversions are a typical development for McGill Homes and we are already in discussion to acquire similar development sites both in the city and around the country.”

The 17,000 sq. ft. site sits on the corner of Gellatly Street and Dock Street in Dundee’s waterfront area which is currently going through a £1 billion redevelopment.

Plans are set to be submitted to Dundee City Council over the coming weeks.