A consortium that includes Fyffes's offshoot, Blackrock International Land, is set to invest almost €90 million in developing a site in Scotland's biggest city.

BBC Scotland yesterday named Blackrock and its partners, local firms Applecross Properties and Esk Properties, as preferred buyers for its headquarters in Glasgow.

Its offices are located on a 5.3-acre site on Queen Margaret Drive in Glasgow's west end, close to the city's botanic gardens.

Applecross is leading the consortium, which intends to convert the listed building and the surrounding property into a combined hotel and residential development. According to local industry sources, the development is set to cost in the region of €90 million.

Glasgow is Scotland's biggest city and has a population in excess of one million. Its west end is one of its more sought after addresses.

BBC Scotland is moving to a new purpose-built headquarters in which it has invested over €280 million.

Blackrock Land was formed when fruit importer Fyffes spun off its property interests into a new business earlier this year. The company listed in Dublin in May.

At the time of the demerger, Fyffes's shareholders took 60 per cent in the company, while Fyffes itself took a 40 per cent stake in return for a payment of €83 million to its stakeholders.

Fyffes chairman Carl McCann also chairs Blackrock.

Fyffes demerged the property business as it had built up a considerable land bank between its own premises and various investments made by the company.

Since its flotation it has spent close to €18 million buying property in Ireland and England. It also owns in development land in Scotland's capital, Edinburgh.