The price tag for the Grand Central shopping centre is expected to top £250 million - which will make a significant dent in Birmingham City Council's debt pile.
Property consultancy DTZ has been instructed by the council and Network Rail to lead the sale of the shopping centre currently under construction above New Street station.
The eagerly anticipated 500,000 sq ft hub, due to open in September, is a culmination of one of the city's most successful joint venture partnerships between the public and private sector and brings the long awaited arrival of John Lewis.
The sale of Grand Central is expected to attract a host of sovereign wealth funds and UK real estate investment trusts for what is predicted to be the only super prime shopping centre to come to the market in 2015.
Market sources suggest pricing to be at circa £250m plus, reflecting a yield of circa 4.50 per cent.
Grand Central is anchored by a 250,000 sq ft John Lewis alongside over 40 retailers including Hobbs, The White Company and Cath Kidston while a further 20 cafés and restaurants are also due to open including Tapas Revolution and Crepe Affaire.
Barry O'Donnell, head of shopping centre Investment at DTZ, said: "This is an exciting instruction on a super prime centre.
"The real winner will be the Birmingham shopper who now has a state of the art scheme anchored by John Lewis which will directly compliment the hugely successful adjacent Bullring.
"Selfridges one end, John Lewis the other and a soon to be re-opened, revamped and enlarged Harvey Nichols in Mailbox - Birmingham is the talking point among retail investors, occupiers and agents."