The Grade B-listed property, which was built in the late 1800s, has previously been used as office space.
Architect 3DReid is working with developer Henley Homes Group on the property, which is situated in Glasgow Central Conservation Area.
Andrew Marshall, associate director at 3DReid, said: “The hotel will be developed by Henley’s Rogue City Hotels brand, bringing to market a product that provides the best of both boutique hotels and serviced apartments.
“This high quality building, which is currently unoccupied, will be sensitively restored and brought back to use throughout the day and into the evening. Located on a corner plot, the front of house accommodation will have an immediate positive relationship with the street.
“The building has been unlocked for hotel use by sympathetic modifications to the Wellington Street entrance externally, whilst internally, floor plates have been modified to present a grand, but efficient volume in which to arrive.”