Colpin Ltd will be submitting a planning application to redevelop the former Queens Gardens police station to Hull Council later this month.
The Hull-based firm is currently converting Essex House in the city’s Old Town into 51 apartments and are said to be looking at a mixed use development for Queens Gardens.
The former HQ closed in 2013 following the opening of the new £32m divisional headquarters in Clough Road.
Humberside Police and Crime Commissioner Keith Hunter said: “This sale will provide a welcome boost to the capital budget and represents good value in the current market, along with the regeneration of a significant building in the city centre.”
Hessle-based commercial property consultants Clark Weightman, which handled the sale, said there had been interest from across the country. Director Carl Bradley said: “The levels of interest in the opportunity exceeded our expectations which was fabulous news that developers want to invest in Hull.”