A Birmingham city centre property with potential to become a 23-storey residential tower has been brought to market for £2.1 million.
Commercial property agency Shepherd Commercial, based in Birmingham and Solihull, has been appointed to market 31–33 Horse Fair, a prominent freehold property in the city’s Southside district.
The site, just a short walk from Birmingham New Street station, has been the subject of a pre-application process with Birmingham City Council, which provided positive feedback on a number of redevelopment scenarios, including a 23-storey scheme delivering around 80 residential units.
Known as Essex House, the 7,727 sq ft multi-storey commercial building currently provides a series of office suites with ancillary accommodation, a substantial basement and five parking spaces, offering flexibility for redevelopment as either purpose-built student accommodation or residential apartments.
Kaine Arkinson, managing director of Shepherd Commercial, said: “31–33 Horse Fair represents a rare opportunity to acquire a freehold site in a prime Birmingham city centre location with significant redevelopment potential.
“The positive pre-application response from Birmingham City Council for a 23-storey tower delivering around 80 residential units highlights the scale of opportunity available to investors and developers – and we are already seeing huge interest in this property.
“With a freehold site within walking distance of New Street Station, opportunities of this scale and development potential rarely come to market in Birmingham city centre.
“At the same time, the existing property provides income through an existing tenancy and offers clear asset management potential in the short term.”
The property occupies a prominent position at the junction of Horse Fair, Bristol Street and Holloway Head, providing direct access to Birmingham’s inner ring road and the wider motorway network.
Part of the ground floor is let to Bank of China (UK) Limited, providing established rental income, while the first to fourth floors are offered vacant, presenting opportunities for refurbishment or alternative uses.
Design work by Glancy Nicholls Architects explored redevelopment options of six, twelve and twenty-three storeys, with the tallest scheme identified as the most effective in terms of scale and viability.
The proposal reflects the site’s location within a recognised tall building cluster and an area experiencing significant regeneration.
The site sits within a rapidly evolving area of Birmingham City Centre, with investment bringing improved connectivity between New Street, the Chinese Quarter and the Smithfield regeneration area.
For more information visit the listing for 31-33 Horsefair.
