Recent severe weather in the region has resulted in deterioration of the infant building at Paradykes Primary School in Loanhead.
Midlothian Council says its priority is to "provide a facility for children and staff which is wind and watertight".
The move follows a consultation with the Headteacher and Parent Council, after which Midlothian Council approved urgent priority improvement works to the building.
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Lisa Beattie, Cabinet Member for Education, said: "While we have a strong track record in building great facilities for our young people and have spent around £150m on new schools, it is too early to say at this stage if we are in a position to build a new school for Paradykes, which would cost in the region of £6m.
"Whilst the ideal solution might be to build a replacement school, in the current economic climate this will be challenging and could only be considered in the context of a wider review of the school estate.
"I am pleased that this review has been agreed at today's Council meeting as there is an immediate need to ensure the building is wind and water-tight, and the proposal to carry out necessary upgrade works will achieve this.
"The Council remains committed to providing the best possible facilities for our children and staff."
Paradykes Primary School was built in 1977 to cater for the northern part of Loadhead.
(IT/GK)
