A major redevelopment site in Birmingham city centre is expected to change hands in a matter of days, the Post understands.
The Great Charles Estate, which comprises seven buildings on a prominent site opposite Paradise Circus, is under offer with a deal looming, it is understood.
An eight building nearby has also been put on the market by Birmingham City Council .
The site, which is council owned and once housed some of its offices, is boosted by its proximity to the Jewellery Quarter, Colmore Row and the new Paradise Circus development while nearby Louisa Ryland House was placed on sale by the city council earlier this year.
The Post reported in September that the estate had gone on the market for offers of more than £20 million and GVA, which is marketing it on behalf of Aviva, was flooded with enquiries from developers, property companies, funds and high net-worth individuals.
While many of the buildings are currently vacant, it was seen as a strong investment opportunity
because of its location on the cusp of the giant regeneration scheme which will see the “concrete collar” of the ring road curtailed.
The portfolio offers a total net floor area of 330,000 sq ft across all office buildings, which range from seven to 11 floors.
The site is bounded by Great Charles Street, Newhall Street, Summer Row and Lionel Street, and
near to the University College of Birmingham.
GVA has held discussions with Birmingham City Council which suggested a mixed-use scheme would be welcomed.