De-listing would open up other options such as demolition and new build. Painful I know but if this is going to sit around for some time it would surely make sense to widen the range of options.
It would also make refurbishment a lot cheaper surely as fewer restrictions on works. It is not the easiest building to renovate, particularly for public use with all the concomitant requirements for DDA compliance and for the versatility so often now needed for public buildings and indeed general use such as offices. I applaud the view that it could be a hotel but still feel that this will not stack up.

I would bet that if in 5 years time we are still sitting here wondering how to make it viable then views may change. Hopefully we do not have to wait that long.