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PRIVACY
Commercial Property

No takers for Great Charles Street building

City council site fails to sell at auction as authority continues its programme of selling off assets

150-152 Great Charles Street, Birmingham

A city council building which project in Birmingham has failed to sell at auction.

The six-storey, 150 - 152 Great Charles was being run by Birmingham-based CPBigwood and had a guide price of £950,000.

However, no takers came forward to meet the reserve price, leaving the council continuing its hunt to find a buyer for the 19,251 sq ft building,           

Last month, the Post reported that this site, along with seven neighbouring buildings owned by Aviva Investors, were all being brought to market for offers in excess of £20 million.

A large portion of the office space is empty and the site could offer developers a major regeneration opportunity and the chance to benefit from the mixed-use project opposite.

GVA, the consultancy marketing the properties on behalf of Aviva Investors, said last month: "That side of Great Charles Street has suffered from the ring road but with the regeneration and taking the road back to grade the development of that side, going through to the Jewellery Quarter, should be a no-brainer."