State-of-the-art music complex at Brierley Hill on sale for £4m
A state-of-the-art music education complex, representing one of the highest specification premises of its kind in the UK, is being offered for sale.
Not-for-profit higher education provider Resonance, which is in its fourth year at Brierley Hill, has put its premises up for sale through Watling Real Estate and Knight Frank.
The building which currently houses Resonance at Cable Plaza, Waterfront West, is being marketed with a guide price of £4 million.
Resonance principal Rick Benton said it was not closing, but the board had decided to put the 44,623 sq ft three-storey building on the market as part of a financial restructuring to cut costs and secure finances.
He said all options for the future site of Resonance were being explored.
Whether or not Resonance continued at its current home would depend on the outcome of the sale process.
Ben Holyhead, an associate in the Birmingham office of Watling Real Estate, said: “This is a highly specified property, which was subject to an extensive circa £5m refurbishment and fit-out by Overbury in 2019, offering market leading music recording and teaching facilities. The property presents a turnkey opportunity for an occupier operating within the education/creative arts sector.”
The building next to the Dudley No 1 Canal provides specialist facilities including a studio complex with three recording studios, four radio broadcast rooms, eight soundproofed band rehearsal rooms and six soundproofed individual practice rooms.
The property also provides a specialist Mac lab and IT suite, plus nine spacious multi-purpose teaching rooms.
A 200-seat lecture theatre/performance space completes the facilities, allowing musicians and bands to showcase their talents.
The building benefits from 191 parking spaces and is located within the DY5 Business and Innovation Enterprise Zone.
Jasper Upton, associate in the education and charities team at Knight Frank, said: “This exceptional music education facility at Cable Plaza represents a rare opportunity to acquire one of the UK's most advanced creative arts premises.
"Cable Plaza is a standout asset in the local area. Subject to the necessary consents, Cable Plaza could also be utilised by an office occupier looking for a vibrant, thought-provoking space. The Waterfront's superb location and future connectivity to the Midlands Metro network only adds to the appeal.”
The Waterfront is set to benefit from the Midlands Metro extension with a dedicated stop proposed at The Waterfront.
