Levelling Up Real Estate wants to create a “buzzing hub of homes” on a huge patch of wasteland left empty for a decade.

A Proposal of Application Notice lodged with Aberdeen City Council by Halliday Fraser Munro details a “proposed major residential or quasi-residential (sui generis) use - potentially flats, build to rent private rented accommodation, student housing, serviced apartments or a mix of these plus supporting facilities and infrastructure” at 92-126 John Street.

The land next to the Woolmanhill student flats was previously occupied by tenements, then later a small shopping centre and finally the Ambassador snooker hall.

Aberdeen-based Levelling Up Real Estate is poised to begin a local consultation on its aims for the huge site.

Gordon Pirie, who established the company with Alan Gee in June, lauded the project’s potential impact on Aberdeen.

He said: “We are acutely aware of the current economic climate and the impact felt over the last few years.

“To have an opportunity to create a range of new homes and accommodation, which in turn can generate additional footfall in the city centre, is one we are really excited about.”