Spectrum Properties has purchased Mansion House in Tollcross Park, Glasgow, from Shettleston Housing Association.
The family-owned company paid an undisclosed sum to save the building and plans to spend £1m to convert it into 13 apartments for rental.
The Mansion House was built by the architect David Bryce for the mine-owning Dunlop family 174 years ago. It features classic crow-stepped gables, corbelled turrets and pointed roofs.