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Birmingham landmark in receivership 1 July 2014

Five Ways Tower, one of Birmingham’s most recognisable and tallest buildings, has entered receivership.

The 23-storey office building, which occupies 100,000sq feet, has been vacant for the last 15 years.

Craig Povey, David Oprey and Richard Toone of accountancy firm Chantrey Vellacott have been appointed joint-receivers.

Oprey said: “The owners have faced mounting challenges maintaining the building over the last 15 years which has led to our appointment as receivers.

“While Five Ways Tower has been empty for some time the building stands in a sought after location in the prestigious business district around Five Ways and Hagley Road.

“The building has a car park for approximately 400 vehicles and with investment to bring the property up to standard it has great potential.”

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