The landmark NatWest Tower, a building which has lain empty for more than a decade, could be bulldozed in radical new development plans.
The block, formally known as has stood unused in one of the city's most prominent locations since 2003 and become the "poster boy" for a lack of speculative development.
A multimillion-pound deal with the promise of one of the city's most eagerly awaited, and largest, single-space regenerations.
Plans have now been lodged which shed light onto what will happen to John Madin's 1970s creation which, for some, sits at odds with its grandiose and historic neighbours in the city's
An application to demolish the 22-storey tower and create a paved external public area has been submitted by new owner Rockspring and its development partner Sterling Property Ventures.
Exact details of what will replace the tower are unavailable at this stage because a full application is being drawn up and is due to be with city planners by April.
However, planning documents suggest a new tower will be built of a similar height to the existing scheme.
James Howarth, managing director of Sterling Property Ventures, said: "There is an urgent need for the early delivery of a high-quality office space in the City Centre Enterprise Zone, given that much of Birmingham's grade A space has been let and demand from occupiers is increasing.
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"103 Colmore Row sits on a prominent site along Birmingham's best business address, yet it has become the poster boy for the city's lack of speculative development.
"We acquired the site at the end of last year with the intention of being the first new office build to be delivered in Birmingham's central business district since Two Snowhill.
"If we are able to commence demolition work while the new building is designed, approved and contracted, it's entirely feasible Birmingham will have a new grade A office tower, comprising more than 200,000 sq ft, by the end of 2017.
"This development is not contingent upon a pre-let. We have both the funds and the confidence to build speculatively."
Demolition work is expected to take around ten months.
Work commenced on the tower in 1971 and was completed in 1976 and it was the largest of a number of new buildings constructed at that time.
A design and heritage report prepared for the demolition application by London-based Doone Silver Architects and Sutton Coldfield consultancy GW Planning pulled no punches in its description, calling it an ugly and uncompromising building which no longer met modern office needs.
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It added: "No comment is made in the character appraisal as to whether the building is to be regarded as a positive or negative element within the conservation area.
"But it is no coincidence the conservation area was designated in 1971 as part of an increasing local concern to protect the heart of Victorian Birmingham from aggressive modern development, of which the Natwest Tower was the most recent and extreme example.
"As a visual landmark, it affects views from both Victoria Square and St Philip's Cathedral Churchyard. It is widely regarded within Birmingham as an ugly building which is particularly inappropriate to its conservation area context."
The site has been on the radars of property developers for several years, particularly following the £25.5 million purchase in 2007 by previous owner British Land.
Planning permission was granted in 2008 to demolish the tower and replace it with a 35-storey building containing 285,000 sq ft of offices, ground floor shops and a rooftop restaurant.
This permission was renewed in 2010 but expires at the end of June.
The report said: "Visual assessment of the approved proposal for a tall tower has previously demonstrated that... a new building of high-quality design could enhance key views within the conservation area, even though the new building may be taller and bulkier than the existing inappropriate building."
The design and heritage report into the NatWest Tower's future concludes: "It is in the public interest for demolition work to progress whilst the new building is designed, approved and contracted.
"The interim landscaping scheme provides a suitable quality of treatment related to a guarantee that, if there were to be a delay in commencing the new building, the outcome will still be an enhancement of the conservation area on an interim basis.
"It is appropriate to grant a fresh consent to achieve a positive outcome for this key city centre site."
News of NatWest Tower's potential demolition will come as another blow to fans of Madin's Brutalist style of architecture which permeated its way through Birmingham during the 1950s, 60s and 70s.
Just a short walk away is Central Library, arguably his most famous building, which is due to be but a memory by the end of October as it is razed as
Other notable projects have already been demolished, such as the BBC's and the old offices of the Birmingham Post and Mail in Weaman Street.
Meanwhile, the Birmingham Conservatoire in Chamberlain Square will also go as part of the Paradise project and Chamber of Commerce House, in Harborne Road, wipe out a multimillion-pound pension deficit.
Elsewhere, new uses are being found for his buildings. The Post reported earlier in January that could be reborn as student halls of residence and 54 Hagley Road continues to thrive as an edge-of-town office development.
And the home of manufacturers' organisation EEF, St James's House in Edgbaston,