Wolverhampton's Canal Club up for sale at £500,000

The Grade II listed building, which sits on the canal side near the junction of St Patrick's Ring Road and Wednesfield Road, has undergone a number of refurbishments in recent years.

Bosses have revealed that they have held talks with interested parties who are considering re-branding the premises as a restaurant and nightclub venue.

The club, which has a capacity of 1,000 changed its name from Uberra to Canal Club, which it had been previously known as, after 23-year-old Tom Kirwan was fatally stabbed outside in July 2012.

A £100,000 revamp was carried out shortly after the premises closed following Mr Kirwan's death, paving the way for it to be reopened.

That came after the building had already been given a £250,000 new look in December 2011. Birmingham-based Christie & Co are advertising the two-storey venue.

It is offering a 116-year lease on the property for £500,000.

Owner Kultar Dale said: "The former occupants chose not to continue with the lease and it was closed and we refurbished it. We have looked to bring out some of the original features of the building.

"We have been contacted by reputable and big-named national companies about taking it over as both a nightclub and a restaurant.

"One interested party wanted to ask Wolverhampton City Council if they could get a restaurant licence for the building but we are looking if we already have that.

"It would lend itself as a restaurant it has a large open area on the first floor which has room for a kitchen and views across the canals for customers.

This is a fantastic building and it's ready to go for a reputable company to come in and open up tomorrow.

"If I wasn't in the property game I'd probably do it out and live in it myself."