An historic former train station in Wolverhampton is being transformed into a public art gallery showcasing masterpieces from local artists after failing to find a buyer to secure its long-term future.

Artists are currently moving their work into the landmark Low Level Station site, which has been standing empty for months following a painstaking two-year restoration.

A year-long lease has been signed for the new makeshift gallery, but bosses are not charging any rent.

Members of the public will be able to get a glimpse of work by local artists and students at the new gallery when it opens in weeks.

Developers behind the restoration of the landmark site have been forced to pay for 24-hour security at a cost of £50,000 over the past year, amid fears it would be “trashed within hours” without it.

Bosses have admitted they are currently no closer to finding a suitable buyer to take over the site in the long-term, despite original interest from Chinese restaurant chain Wing Wah.

The historic city centre site was put back on the market after a long-awaited casino development was dramatically halted at the 11th hour a year ago.

Workers from Claremont Leisure were due to have moved in last summer to transform the site, with £6 million of Las Vegas-style fittings and fixtures.

But casino chiefs pulled the plug on the project after two years of restoration work to bring the landmark back to life.

Just weeks after the decision, Oswin Developments, which was behind the restoration, marketed the former station building with property bible Estate Gazette.

Jonathan Cox, of Oswin Developments, said: “It is great that the site is being put to good use. I was approached by a student about turning it into a gallery and they are moving in now.

“It will be opening in the next few weeks.”

The station closed to passenger services in 1964. The casino was meant to be one of the final projects of a wider £35m development of the area.