The former Dundee city centre headquarters of investment firm Alliance Trust could be turned into flats.
AKG Property Group is seeking planning permission for Meadow House, at the northern end of Reform Street.
It wants to divide the B-listed property into 11 flats, with a total of 38 bedrooms.
Eight of the flats would also require houses in multiple occupation licences.
Alliance Trust now operates from purpose-built offices in West Marketgait.
Architects McCabe and MacDonald said: “Built in 1867 as a temperance hotel, Meadow House is a particularly fine example of its period.
“It has a magnificent well staircase and panelled boardrooms presenting a considerable challenge in conversion terms between conservation and compliance with building standards.”
Preliminary discussions have already taken place with council planning officers.
The only proposed alteration to the outside of the building would be the reinstatement of several sash and case windows facing the Howff and the introduction of ventilation outlets.
AKG specialises in this type of development and its completed projects include nine flats at another address in Reform Street along with eight in High Street and 11 in Castle Street, all of them in B-listed buildings.