BBC Scotland's home is to be turned into flats and a hotel

The agreed price is conditional on the proposed development in Glasgow's west end gaining planning consent to be transformed into a hotel and flats.

The 5.3 acre site has been home to BBC Scotland since 1936.

The majority of the site is earmarked for a new residential development while the listed buildings will undergo sensitive conversion to a hotel.

Developers Blackrock and Applecross / Esk had been selected as the preferred purchaser of the Queen Margaret Drive site.

Bruce Malcolm, BBC Scotland's chief operating officer, said: "We have now concluded our contract negotiations and agreed a selling price of �18m.

The proceeds from the sale of Queen Margaret Drive were included within the overall Pacific Quay and City Halls business case and contribute to the overall investment in our new HQ and the roll out of technology across BBC Scotland Bruce Malcolm BBC Scotland's chief operating officer

"A planning application will shortly be lodged with Glasgow City Council's planning department and the process is expected to be concluded by the end of this year.

"The proceeds from the sale of Queen Margaret Drive were included within the overall Pacific Quay and City Halls business case and contribute to the overall investment in our new HQ and the roll out of technology across BBC Scotland."

Applecross is a leading residential developers while its associate, Esk, is in retail, hotel, leisure, office and mixed use development.

It is intended that the majority of the site will be developed for high quality residential units.