Proposals to develop the site of the former Goldberg’s department store, which has been left largely derelict since the closure of the store in 1990, include 132 apartments for sale, 435 new flats for rental and 586 rooms of student accommodation, as well as a 124-room hotel and retail space.

Bounded by Trongate, Wilson Street, Brunswick Street, Hutcheson Street and Candleriggs, the site was sold by Selfridges three years ago after it abandoned plans for a major new department store.

The firm behind the scheme, Candleriggs Ltd, has already secured planning permission for a slightly smaller development on the site but in recent months has acquired several properties holding up the plans.

A design statement which was submitted to council planners said: “This strategy makes a series of public places whilst generally responding to the grain of the surrounding urban form.

“Throughout the public edges of the scheme the intention is to place shops, bars and cafes at street level to give a real possibility of street life and activity throughout the site.

“At the corner of Candleriggs and Trongate a new convenience store is intended and it is hoped this large branded store will help draw High Street retailers from Argyll Street onto this part of Trongate.”

Candleriggs Ltd said that although its plans involved the partial demolition of listed building, with facades retained and altered, it had had a cultural heritage statement prepared that stated the longstanding vacant site had stifled the overall regeneration of the Merchant City, “with a dilapidated building and lack of contribution to the urban realm”.

It added the development would “not only preserve the special character of the Central Conservation Area, but will enhance it by bringing back the sense of historic street grid in the Merchant City and re-accentuate the historic street pattern”.

The application concluded: “The proposals present a suitable and viable development solution that will provide a positive contribution to the final redevelopment and regeneration of the area.”

Work to clear the site and demolish unlisted buildings is expected to begin soon.