Southside plot with tower ambitions hits market

A city-centre office site in Birmingham has gone up for sale for £2.1m – with plans for future residential development in the pipeline.

Essex House on Horse Fair, currently partly rented out to the Bank of China, was put up for sale this month.

The building’s unidentified current owner has been involved with pre-application discussions with the city council over a proposed 23-storey tower, which could see around 80 apartments built on the site as part of a future scheme.

The building sits on a prominent plot in the city’s emerging Southside district, known for its nightlife, cultural venues and the historic Chinese Quarter, and a short distance from the £1.9bn Smithfield regeneration project.

According to agents Shepherd Commercial, design work by Glancy Nicholls Architects has explored redevelopment options of six, twelve and twenty-three storeys, with the tallest scheme identified as the most effective in terms of scale and viability.

Kaine Arkinson, Managing Director of Shepherd Commercial, said the plans reflect the site’s location within a “recognised tall building cluster”, and an area experiencing significant regeneration.

“The positive pre-application response from Birmingham City Council for a 23-storey tower delivering around 80 residential units highlights the scale of opportunity available to investors and developers – and we are already seeing huge interest in this property,” he said.

“With a freehold site within walking distance of New Street Station, opportunities of this scale and development potential rarely come to market in Birmingham city centre. At the same time, the existing property provides income through an existing tenancy and offers clear asset management potential in the short term.”