The property features of a mix of studios, one- and two-bedroom apartments with area for a ground floor restaurant and back of house space, two off-street parking spaces and a deliveries parking bay.
The site is in the city centre, with restaurants, retail and office space close by. The Overgate shopping centre, the newly upgraded train station, the Waterfront and the new V&A Museum are all within minutes of Project Tay, which has views of the Dundee Waterfront, the V&A museum and the river towards the Kingdom of Fife.
The property is owned by Assurance Developments Limited, and The MRP Group has been retained to find an operator.
Max Thorne, the MRP Group's CEO, said: "We are very excited to announce Project Tay. Dundee has seen a lot of activity, both from investors and global interest which only confirms our belief that Dundee is a world class destination. As a key city in Scotland, extended-stay accommodation is in high demand as more businesses relocate to take advantage of upcoming citys. Consequently, Dundee has seen this demand soar. The city is a cosmopolitan hub for business and leisure, recently being announced as the UK's only UNESCO City of Design. As you can see, Dundee holds a lot of promise and we look forward to taking this aparthotel to the next steps."