The Royal Mail sorting office in Campbell Street, Leicester, which has been bought by an unnamed London-based investor
A Royal Mail building long seen as key to the redevelopment of the area near to Leicester railway station has been bought by a developer.
The sorting office, in Campbell Street, has been sold to an unnamed London-based investor in a multi-million pound deal.
Royal Mail relocated the sorting operation to Meridian Business Park, in Braunstone, last year.
It is not known what the new owner has planned for the site, but the 160,000 sq ft complex is described as being "suitable for a range of uses".
One property expert has said the site would make a good location for a hotel.
It is thought the investors were attracted to the city by the recent arrival of big names such as computer giant IBM and insurance group Hastings Direct.
Jane Taylor, of the Leicester office of property agent Lambert Smith Hampton, which sold the building on behalf of Royal Mail, said: "We had a lot of interest from investors and developers outside of Leicester, which was encouraging for the city and shows this area is on the map nationally when it comes to major investment."
Peter Wilkinson, a Leicester planning specialist, said the closeness to the train station made the building an attractive investment.
"It presents a good opportunity for a variety of uses because of its fantastic accessibility," he said.
"It would make a good location for a hotel, given the Premier Inn nearby is one of the company's top 10 busiest in the country."
The building had formed a key part of a decade-long plan to create a major office district close to the station.
However, the scheme was scuppered after Government funding was axed.
Royal Mail spokeswoman Morag Turnbull said: "Royal Mail has exchanged contracts on the sale of our Campbell Street office and is in the process of completing the sale.
"I am unable to go into details of the sale in terms of the name of the purchaser, cost and what it will be used for."