The ClockTower – which dates back to 1877 – last night heralded its greatest moment in more than a century by scooping the award for outstanding contribution to Dundee at the Steps Theatre ceremony following its £4million conversion into a stunning waterfront residence by restoration specialist Unicorn.

Designed by Archial Architects, the A-listed six-storey building comprises 12 properties including two and three bedroom apartments and three duplex penthouses steeped in both historic and contemporary architectural splendour.

Originally designed as a symbol of prosperous times for the Port of Dundee, visible to any vessel in the harbour of the mouth of the Tay, the ClockTower would welcome 20 vessels a day in 1900 from the Baltic, India and the USA with jute, flax and hemp for processing in the city’s mills.

Serving as a warehouse for the precious jute cargoes, the ClockTower was a cathedral of commerce in which no expense was spared, and Unicorn has named each property after the clippers, whalers and steam ships and vessels either built in Dundee’s yards or which plied its trade through the great port.

The Civic Trust also last night recognised Unicorn’s successful Panmure shipyard development on South Victoria Dock Road, which combines new build and historic conversion apartments and townhouses.

Tim Allan, director of Unicorn Property Group, said: “It is a fantastic double celebration for Unicorn to win the outstanding contribution award for the ClockTower as well as a commendation for our Panmure development.

“Our main focus throughout these projects was to maintain the historical glory of the building and the incredible craftsmanship that went into its creation both then and throughout its restoration. To be recognised by the Civic Trust is testament to this ongoing effort and we hope the ClockTower will play a key role in the reinvention of a dynamic and aspirational Dundee waterfront.”

Derek Reid, director at Archial, said, “The conversion of the ClockTower marks the latest stage in the evolution of our development masterplan aimed at regenerating the City Quay area and inviting people to renew their relationship with the river.

“As part of that masterplan, the ClockTower development will help transform, energise and reconnect the city to the waterfront, threading the city and water together to create a special sense of place.”

Jack Searle, chairman of Dundee Civic Trust, added: “Sometimes the projects that excel are those which provide for our future while giving us a sense of our past. This is just such a project  and credit is due to all those involved.”