Hope for neglected City Arcade after £1m sale
HistoricVictorian landmark has suffered in recent years
AHISTORIC Victorian landmark in Birmingham city centre has been sold for almost £1 million.
The grade II* listed building that houses City Arcade, off Union Street, has been a sorry sight in recent years.
The ground floor of the four-storey property was most recently a Santander bank until the branch closed three years ago.
Property agent Edward SiddallJones said he did not know what the intended purchaser wanted to do with the property, but he felt it had the potential to become home to some independent businesses or mixed use.
The red-brick and terracotta building above the arcade was built from 1898 to 1901.
But the arcade was never a match for Piccadilly Arcade off New Street or the Great Western Arcade off Colmore Row. They can be closed at night, but City Arcade remains open, leaving it prone to litter, pigeons, drug users and people sleeping rough.
The arcade has split ownership and it is the privately owned side which has been sold. Birmingham City Council owns the other side which in recent years has experienced a large turnover of shops and closures.
The longest established business is Tilt at the New Street end of the building, but even that had been previously empty for years having formerly been used for tourist information. In April 2020, its owner was wrongly threatened with bailiffs over a £6,000 council bill.
Nearby, the giant WHSmith closed in March, 2018 and now only has a much smaller shop further down Union Street, whilst the large Sainsbury’s supermarket opposite shut in September last year.
The growing sense of neglect in Union Street was vividly illustrated by plants growing out of the historic building’s brickwork.
Mr Siddall-Jones said: “There are always opportunities in property regardless of what the market is doing. This site is not in the greatest condition, but it is still a fabulous building.
“The previous owner went into receivership and not many freeholds become available. There was a lot of interest in it so it is not a ‘bargain’ as it still needs a lot of work.
“But it could be used for offices, retail, leisure, even a bit of residential at the top.
“It is under offer, and with all of the work we’ve put in it should go through pretty quickly – it has been quite a privilege to sell it.
“I wouldn’t know what its future is, but if you look at what has happened in Portobello Road in London and you can really see its potential.
“I am optimistic about the future of Birmingham city centre if we can get more specialist operators in.”