It emerged this week that the landmark Alpha Tower building on the corner of Easy Row and Broad Street in Birmingham city centre has been put on the market for just over £10 million.
The asking price is 25 per cent of the price it changed hands at in 2008 .
The tower sits on the Arena Central development site — a £400 million 2.3 million sq ft mixed-use scheme that will transform the Broad Street area.
Work on site began in July with the demolition of a multi-storey car park to build a 210-room Holiday Inn Express. The area will also benefit from a £25 million extension of the city’s Metro system from New Street station to the Westside district via Broad Street.
Alpha Tower was completed in 1973 as the headquarters of ITV regional television franchisee Associated Television, which closed in 1982.
It was built to a design by George Marsh of Richard Seifert & Partners as the headquarters of ATV and part of the company's production studio complex known as ATV Centre.
Picture captions from the time explain how 'New homes for the BBC and ATV network will be capable of full-scale production of programmes in colour'.
Alpha Tower was constructed at a time of rapid change in Birmingham city centre with the Paradise Forum development housing the John Madin-designed Central Library being built at the same time.