The centre, situated above New Street station, is key to the redevelopment of the entire area as part of the flagship scheme funded by Network Rail, Birmingham City Council, Advantage West Midlands and Centro.

Councillor Mike Whitby, leader of Birmingham City Council and chairman of the New Street Funders Board, said: “This is a significant development in the Gateway project and its speedy acquisition means that the momentum is building towards delivering a completely new rail station for Birmingham, the region and the UK.

“The current station is creaking at the seams with double the passenger numbers it was designed to cope with. New Street sees over 33 million passengers a year and each week the entire combined population of Manchester and Liverpool pass through the station.

“The purchase of the Centre was an important component of the plan, and shows our commitment to the project and our determination to ensure Birmingham has a station fit for the future."