Norwich Union (NU) has confirmed that it is interested in acquiring the 929 sq m (10,000 sq ft) Council House in Poplar Road, Solihull, West Midlands, which the council put on the market last Tuesday.
Council House, currently occupied by the Solihull Health Authority, forms part of Mell Square – NU’s 41,805 sq m (450,000 sq ft) retail development which is anchored by Marks & Spencer and Beatties.
The council has invited developers to submit propsals for the building. The development brief stipulates that any proposal is limited to a retail scheme, a museum or a pub/restaurant.
Julian Hill, investment surveyor at NU said: “Council House is the missing link which would enable NU to own the whole of Mell Square. We are obviously interested in looking at the prospect of acquiring the site.”
A council spokesman confirmed that the council had considered disposing of the long leasehold interest in Council House in an off-market deal but decided to take the building onto the open market in order to get a “full market price for it”.
A decision on who gets the building will be made by Solihull Council this October.
Donaldsons advised Solihull in its feasibility study and it seems likely that it will be appointed in the disposal of the property according to the Solihull spokesman.
EGi News 25/07/97
