A landmark building on Birmingham’s ‘golden mile’ which formerly housed Zara’s nightclub has gone onto the market with property experts anticipating a multimillion-pound sale for the prime site.
Agents Bond Wolfe and Sanderson Weatherall have been instructed by receivers to sell the Grade II-listed freehold property at 80 Broad Street.
The 13,277 sq ft, three storey property was originally the Royal Orthopaedic Hospital.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “Zara’s nightclub closed over two years ago, and the building is a well-known and recognised property in a very popular location.
“As the hospitality sector continues to pick up, we are anticipating strong interest both from leisure operators and those with an eye to the potential of this outstanding location.
“The chance to purchase a freehold property in a location such as this in Birmingham occurs only infrequently, hence the strong investor demand we are experiencing.
“Whether the future purchaser has in mind a new venture in the hospitality sector, or has other plans, subject to planning permission, it will be good for the city to see this historic building brought back into commission.”
The available space consists of a basement office of 511 sq ft, a ground floor of 5,995 sq ft, first floor of 5,221 sq ft and second floor, which contains a two-bedroomed apartment, of 1,549 sq ft.
Tim Simmons, partner at Sanderson Weatherall, said: “This is a beautiful and historic building located on one of the prime leisure circuits in the city.
“The success of the UK vaccination programme has enabled the hospitality and leisure sector to reopen and people are flocking back to their favourite areas and nightspots.
“This is a major investment opportunity, and we are already receiving significant interest from local, regional and national operators and investors.”
Further details of the former Zara’s building at 80 Broad Street can be obtained from Gurpreet Bassi on firstname.lastname@example.org or by calling 0121 312 1212.