An inspection commissioned by the Department of Environment, Food and Agriculture questions previous recommendations that Tramway Terrace be demolished.
The property is designated as a Registered Building, and so demolition should only be considered as a last resort.
The new report, by Mann Williams Engineers, says various other reports have either only focused on a small proportion of the building or have been based on comments made by others.
It adds that a report commissioned by the DOI in 2018 advised a number of repairs, which have not been carried out, resulting in further deterioration.
It concludes that a significant proportion of the current condition of the building is a result of failure to repair and maintain this registered building, and says it is repairable.
Northern bus services to be raised in Keys
Ben out of service for maintenance work this week
Richmond Hill closed again tonight for work
October warmer and sunnier than usual, says Met Office
MHK queries cost of Liverpool awards trip
DOI says it has 20 empty public sector homes
Marquee plan submitted by Milntown Estate
Fire crews called to free driver from crashed car