Sean Mulryan's Ballymore Developments has put part of its Snowhill office scheme in Birmingham up for sale with an asking price of more than £110m (€125.8m).

The offices in the block, which is part of a wider €600m development, are almost fully let to KPMG and Barclays bank.

The Snowhill site is part of a portfolio bought by Ballymore from Railtrack in 2003.

Ballymore had iced plans for the second phase of offices at the scheme due to the economic downturn – despite agreeing a partial lease to law firm Wragge & Co – and the lack of development finance.

A 44-storey residential tower and a Westin hotel and spa have also been put on hold.

Ballymore's principal backer at the scheme is taxpayer-owned Anglo Irish Bank but Barclays has also been involved in financing construction and development.

Banks that invested in land and other troubled landowners have approached Ballymore in recent months asking for help from the developer to manage their assets.

Group director Paul Keogh told the Sunday Tribune several weeks ago that Ballymore was considering the option as a "natural progression" of its business.