A 174-year-old baronial mansion in Glasgow's Tollcross Park is set for a £1 million upgrade following its acquisition by a local developer.

Spectrum Properties has paid an undisclosed sum to Shettleston Housing Association for the A-listed Mansion House, which was built by architect David Bryce for the mine-owning Dunlop family. The £1m investment will create 13 apartments for rental which are expected to be available by the end of next year.

“The Mansion House is a quite spectacular property, built in a distinctive Scottish style and set on the summit of what was then the Dunlop family’s private estate," Spectrum managing director Bill Roddie said.

“In its essentials the building is similar to the Great Western Road, Glasgow mansion of the art collector and city benefactor, Sir William Burrell which we restored as high-end apartments a couple of years ago. As ever, we plan to undertake a sympathetic restoration of the entire property, keeping it in its original form and retaining the 13 residential apartments currently onsite."

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Established by Mr Roddie in 1988, Spectrum has a £60m portfolio of primarily commercial properties across Glasgow, Edinburgh and Stirlingshire, including approximately 700 commercial properties in Glasgow which comprise 70 per cent of its holdings. The group expanded into residential development 10 years ago.

The Mansion House features classic crow-stepped gables, corbelled turrets and pointed roofs. The new homes will be served by a private road sweeping through the park.

“It has had its ups and downs over the years, and at one stage was facing demolition before it was preserved by a far-sighted restoration project which was completed nearly 30 years ago," Mr Roddie added. "We are delighted now to be able to take on the challenge of custodianship.”