Scaled-down plans have been brought forward to regenerate a prime vacant city centre business address which previously housed financial services firm KPMG.
Property investment and development company Bruntwood has lodged new plans to renovate Two Cornwall Street which sits on the corner with Livery Street - opposite the site of
Also known as 'Peat House', Bruntwood acquired the complex in November from West Register, the property arm of the Royal Bank of Scotland, which had planned to demolish the building and construct a 13-storey replacement.
The £40 million regeneration in Birmingham who were concerned over its potential impact on The Old Contemptibles pub.
But the property and saying it would address the dire shortage of grade A office accommodation in the city.
Manchester-based Bruntwood, which also owns Centre City, Mclaren and nearby Cornwall Buildings, confirmed it had purchased the building when
It now plans to carry out a £14 million renovation programme which will provide 110,000 sq ft of grade A office space in 2016 but the building will remain nine storeys high.
The redevelopment has been designed by city architecture Glenn Howells and includes a sleek façade and new glazing to provide occupiers with panoramic views across Birmingham.
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It will also have a double-height reception area, a private basement car park and a rooftop terrace which will be accessible to all occupiers.
The building sits in the heart of the and is a short walk away from Snow Hill station and the One and Two Snowhill office towers where KPMG is now based and
Rob Valentine, head of Bruntwood's Birmingham office, said: "Our plans for Two Cornwall Street will transform the building into much needed, highly desirable grade A office space, ideally situated close to the city's transport hubs, shops, restaurants and cafés.
"This redevelopment will be completed at a crucial time for the Birmingham office market when a likely surge in interest from occupiers looking to position themselves within the city's business community will coincide with a lack of available high quality office accommodation."
Asked why it was not following the demolition route put forward by West Register, Bruntwood said it planned to "comprehensively redevelop the building" and everything within it would be brand new, only retaining parts of the existing frame and foundations.
A spokesperson added: "We've been able to design a grade A specification building which will be delivered to meet the market demand in a shorter timescale.
"Bruntwood has successfully completed schemes of this nature on a number of similar buildings to deliver workspace for customers which is comparable with the new build alternative."
Property consultancies and have been appointed as joint agencies for Two Cornwall Street.