Receivers appointed to sell former building society HQ
The former West Bromwich Building Society base is up for sale after receivers were appointed to the building.
Fletcher Bond has now been appointed as joint fixed charge receiver of Society House after Empire “suffered some issues”.
Doncaster-based Empire went into administration last year owing around £500k. It had changed its name to MCIOD just days before Metro Bank called in administrators from Opus.
Led by Paul Rothwell, Empire was also spearheading a £125m tower in Manchester city centre called The Vision. Receivers were appointed over this scheme around two months ago.
The 172-year-old former West Bromwich Building Society headquarters was vacated several years ago. It’s a seven-storey part complete office-to-residential development building extending to approximately 70,000 sq ft and which could eventually provide 105 apartments.
The receivers have also been appointed over the adjacent car park/vacant land extending to approximately 0.5 acres with parking for approximately 80 cars which would be ideal for further new build residential development as well as commercial uses subject to Planning.
Rory Dillon, managing director of Fletcher Bond said: ‘This is an exciting development opportunity in a town currently undergoing a resurgence with ongoing private and Towns Fund investment. The property is in a great location in West Bromwich town centre with excellent transport links to Birmingham.
“We are already fielding good interest in the scheme from local and regionally based developers due to the high demand for apartments from investors and owner occupiers alike as well as the really strong rental fundamentals in the areas where there is a real shortage of the type of high-quality product which is proposed to be delivered”.