The five-star Marcliffe Hotel in Aberdeen is poised to change hands in a deal to turn the site into a luxury housing development.
The Stewart Milne Group (SMG) was last night on the verge of buying the North Deeside Road venue.
The hotelier had previously struck a deal with developer Gibson McArtney Ltd, who tabled plans for a £90million office complex.
However, it is understood those proposals will now be withdrawn.
Stewart Milne told the Press and Journal that there would be extensive consultation with the public, but he hoped to have an application lodged within three to four months.
He pledged the new high-end homes would be of a quality that “Aberdeen has never had before”.
“The properties will be at the very top end of the market,” he added.
