The developer has acquired the former Kingston House office site on the corner of the Strand and James Street in Liverpool city centre from the Homes & Communities Agency for an undisclosed sum.
Langtree was originally selected as preferred developer for the site by the North West Development Agency and urban regeneration company Liverpool Vision prior to the recession.
Ownership of the building transferred to the HCA following the closure of the NWDA. The HCA has now chosen to dispose of the asset rather than develop it in partnership.
Langtree plans to deliver a new office building on the site. The plot's potential has long been hampered by a neighbouring pedestrian walkway to first floor level once used as access for Kingston House but now cut off and unused, and which is owned separately by a London-based investor. Langtree said it had not acquired the walkway.
John Downes, chief executive at Langtree, said in a statement: "This is a very important step for the future of this location in the city's business district and we will work closely with Liverpool City Council to create a building which reflects the new Liverpool we have all seen grow in the last decade.
"In a city full of great buildings we want to seize this opportunity to develop something of which the city can be proud."