The University has already secured most of the site currently occupied by the Western Infirmary in an area bounded by Dumbarton Road, Church Street and University Avenue.
Discussions between NHS Greater Glasgow and Clyde and the University to secure the remaining part of the side, which, if successful, would provide 14 acres for development.
The University will now begin consultations on the most appropriate way to develop the site when the Western Infirmary closes in 2015.
Professor Anton Muscatelli, Principal and Vice-Chancellor of the University of Glasgow, said: “The student experience is at the heart of all that we do, and the campus redevelopment will allow us to focus on what our students want and need, as well as providing an environment that is open and accessible to the wider community.”
Professor Muscatelli added: “We are already committed to investing at least £80m in new buildings and equipment and £55m in refurbishing facilities over the next five years. Over the next ten years - as we develop the Gilmorehill site - we anticipate investing more in our infrastructure than was spent in delivering the 2014 Glasgow Commonwealth Games and so create something very special for our University community and the City of Glasgow.”
Robert Calderwood, Chief Executive, NHS Greater Glasgow and Clyde, added: “In 1878 the University transferred the land to the former Hospital Authority to construct the original Western Infirmary. The terms of that deal stipulated that should the site no longer be required for healthcare purposes, the University should be given the opportunity to re-acquire it.
“The Western Infirmary is to close when the new South Glasgow Hospital opens in 2015 and we are delighted that a significant part of the site has already been sold back to the University for educational purposes and that we continue with talks that would see the second part of the site also transfer back to the University.”