The Balmain Leagues Club, former home of the Wests Tigers, will enter the next phase of its colourful life, after the owner has put the freehold property up for sale, worth more than $70 million.

It is expected any buyer would seek to redevelop the site into mixed use, with apartments and retail space underneath.

For sale: Balmain Leagues Club. Credit:Danielle Smith

The sales agents, Michael Andrews and Scott Gray-Spencer of CBRE, said a heads of agreement was in place that would allow the West Tigers club to return to its spiritual home.

"With the Sydney apartment market experiencing an under supply of new dwellings, this property, by virtue of its location, creates a core opportunity to deliver on these demands," the agents said.