A GLASGOW university is looking to sell it's stateside campus, after failing to "reach its potential".

Glasgow Caledonian University (GCU) launched GCNYC in September of 2013, but found it difficult to attract students and was only able to award degrees four years after it opened.

GCU are looking to exit New York, if they can't find a parternship for the costly project – £26.6m in loans and grants from the university was given for the project, with £23.1m in loans and £3.5m in grants, according to recent accounts from the university.

It has been called a "white elephant" by critics, who also urge for an inquriy into what went wrong.

The three-year delay in being able to issue degree certificates came because of delays in gaining a licence to do so from the New York authorities.

READ MORE: Glasgow Caledonian University renames building in honour of Chancellor Annie Lennox

Labour MSP Jackie Baillie said: "This is an ignominious end to a vanity project encouraged by the SNP government.

"At a time when university staff have felt forced to take industrial action, it is simply unfathomable that this white elephant was still going.

"This is a welcome end to an expensive and doomed project that should go down in history as a guide in how not to run a project of this nature."

A statement from GCU said: "Despite the significant efforts of many staff in the UK and New York in building highly regarded academic programmes, GCNYC has to date not reached its potential.

"Following a discussion at the university court in February, it was agreed that the university would actively seek a partnership with another educational organisation, with a view to the partner ultimately acquiring GCNYC.

"Whilst a partnership is our preferred option for the college, in the event a partnership cannot be established, we will initiate a process to exit from New York."

The National:

The campus was formally opened in April 2014, by then first minister Alex Salmond, when his replacement Nicola Sturgeon visited in June 2015 she described the university as "absolutely fantastic development".