A statue of King Edward VII is set for a £114,000 restoration before being returned to Birmingham city centre after an absence of almost 60 years.

Everyone in Birmingham was given the day off work when the statue was unveiled in Victoria Square in 1913. It had been built thanks to a £5,000 memorial fund launched by the Birmingham Mail following the much-loved monarch’s death three years earlier.

It was moved to Highgate Park when Victoria Square was remodelled in 1951. And there it has remained, enduring decades of abuse from vandals and the theft of three bronze sculptures from the plinth.

But now plans are under way to return the image of King Edward, who was known as The Peacemaker during his time on the throne, to the city centre in time to mark the centenary of his death.

The work of Birmingham sculptor Albert Toft, the statue will be removed from the park, cleaned and repaired, and re-sited outside Baskerville House in Centenary Square. The relocation project is being funded by the city council plus a £10,000 contribution from Targetfollow, the owners of Baskerville House.

Birmingham City Council’s leisure chief Coun Martin Mullaney, said it was only right that the statue be restored to its former glory and its location at the heart of Birmingham city centre.

He said: “I’m delighted we’re now in a position to move this superb piece of sculpture back to Birmingham city centre.

“Toft’s statue of Kind Edward VII deserves to be seen and enjoyed by the maximum number of people. And I’m particularly pleased that the move has gained unanimous support from a whole host of organisations and individuals.”

News that the statue was to be returned to the city centre first surfaced last year, when it won the backing of the authority’s planning committee.

Committee member, Coun Peter Douglas Osborn, said at the time: “I walk past his statue quite often and think he deserves a bit of peace after years of abuse.

“It needs to be in a place where it is loved and is something to show our children when they come into the city.”