The former home of legendary Birmingham nightclub Snobs is set to be turned into apartments.
New plans have been lodged to convert the Beneficial Building, at the corner of Paradise Circus and Suffolk Street Queensway, into private serviced accommodation.
The proposals have been lodged by Colico Living, an Exeter-based company which specialises in city centre developments to create so-called 'co-living' schemes.
Already popular in London, it is a relatively unknown concept in Birmingham and one that promotes a sense of community among residents and is likely to prove attractive to young professionals relocating to the city.
If approved, the building will be converted into 190 self-contained studios to rent only with their own shower rooms and kitchens alongside communal facilities such as a roof terrace, kitchens and dining rooms.
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Tenancies will be available for three months upwards and all bills will be included in one monthly payment.
Colico Living director Lisa Timberlake told BusinessLive: "They will be relatively small studios but there will be a lot of amenity and co-working space within the building.
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"I suppose it's a new way of living and the whole emphasis is on community for young, working people.
"The reason we're opting for studios is to encourage the residents to come out and meet others and not be lonely, that's the whole message behind it.
"The units will never be available to buy, it is more like an apart-hotel complex than standard residential, and that's how it will be run with a full-time concierge and staff on site all the time.
"But we don't want that transient feeling to it, we want people to think of it as their home. It's a great location and it's been derelict for far too long. We really want to bring that back to life.
"We're very excited to be coming to the city and we're hopeful of completing this in time for the Commonwealth Games in 2022."
This is the company's first venture into Birmingham although its directors have worked on student accommodation developments with previous employers in the city.
Beneficial Building, which also once housed HSBC, was home to Snobs for many years but the to its current home in nearby Smallbrook Queensway.
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This new application is the latest in a long line of plans for the site which has been hidden behind a wall of scaffolding for years after cladding started to fall off it.
In 2017, new proposals were unveiled to create a 130-bedroom boutique hotel but the project never came to fruition.
Other proposals for the seven-storey complex have included a mix of hotel and apart-hotel rooms while another application secured permission to create apart-hotel rooms and commercial units.
Built between 1959 and 1962, Beneficial was the first pre-cast concrete building in Birmingham but its owners fell into administration in 2008.
The application site neighbours the long-running £700 million Paradise regeneration project in Chamberlain Square which is creating a mix of offices, hotels and apartments.