Council bosses have confirmed that Manchester’s town hall could be sold without a suggested major upgrade, possibly leading to a buyout and the potential for new office space.

Manchester City Council has proposed the aging building should be renovated at a cost of £2.2m. With the iconic building needing a facelift and a number of repairs, it is expected that the bill could end up easily exceeded that total. According to a report assembled before the council executives, heating, mechanical, structural and electrical work is needed to bring the establishment into the modern era, hence the seven-figure sum.

However, if these changes are not implemented, the building could be sold off to private investors who could see it turned into office space. Manchester’s Victorian-style Town Hall is one of a long line of historic buildings in the Greater Manchester area to require major funding in order to thrive, but selling it could save the council a seven-figure sum.

There has been no major upgrade scheme put into place on the town hall since it was built in 1865. As well as the building, which is located in Albert Square, council bosses are also planning to improve the drainage and the cobbles around the area as part of the work. Alternatively, although the building is cherished, councillors may deem it more prudent to sell the building and ideally bring new job opportunities to the area.

Once the report has been approved, officers will begin to carry out initial investigations and report back next summer.