A major fire which took hold of a building in Glasgow city centre has been contained but an asbestos warning has been issued to local residents and businesses.

More than 120 firefighters dealt with the incident on the busy shopping thoroughfare of Sauchiehall Street. The blaze started in the roof of the building which houses Victoria’s nightclub at about 8.20am on Thursday.

Chief fire officer Alasdair Hay said the fire was one of the biggest the service has had to deal with.

“It’s an incredibly complex fire in hazardous conditions and I want to praise the firefighters for their professionalism in the way they are dealing with this incident,” he said. “It is one of the biggest incidents we’ve had in the Scottish fire and rescue service since its inception.”

No one was injured in the incident. Shows at the Pavilion and nearby Theatre Royal have been cancelled with firefighters expected to remain at the scene for a few days.

Assistant chief officer Lewis Ramsay said crews were quick to attend and control the fire. He said: “I am delighted to say we have managed to contain it within the block that was affected and more importantly we have managed to protect and save some iconic premises round about, most notably the Pavilion Theatre.”

He added: “We would urge the occupants of surrounding buildings to remain indoors and keep their windows closed due to the suspected presence of asbestos.”

Fire crews broke into the 114-year-old Pavilion, one of the city’s best-loved music hall venues, which is located on the other side of a narrow lane behind the building that was on fire, amid concerns that the flames would jump across.

Speaking from the scene, Ramsay said: “It was like a blowtorch and [the first crews] were beaten back by the heat and the flames and a really rapid spread.”

He said the fire crews had to retreat from the burning building quickly before undertaking “some really aggressive firefighting”.

“It was a really complicated fire with an extensive fire spread, spreading across a number of older tenement-style buildings.”

Police helicopter assisting @GreaterGlasgPol and @scotfire_glasgo at the scene of a large fire within Glasgow city centre. pic.twitter.com/91ShR9LC2P — PoliceScotlandAir (@polscotair) March 22, 2018

More than 20 fire engines were used, including specialist high reach appliances and a heavy rescue vehicle, with many of the 120 firefighters wearing breathing apparatus.

Streets in the city centre have been cordoned off to traffic and several buildings have been evacuated.

The scene in Glasgow city centre. Photograph: Jane Barlow/PA

Sandra White, a local MSP, talked about the fire at first minister’s questions in Holyrood, asking what assistance could be given to the emergency services, businesses and residents affected.

Nicola Sturgeon, the first minister, said the incident was “deeply concerning” and added: “The Scottish government’s resilience unit will remain in contact with the fire services as this incident develops and I will be kept updated in the course of the day.”