Yes that was Tower records - now urban outfitters.
The original virgin store from the 1970s was the other end of corporation St. Down by the law courts and central hall as was. I remember it being there but was too young to really count myself a customer. I did frequent the Bull St shop which had a basement with old sofas where you could hang out and listen to whatever they were plugging at the time. Virgin was a breath of fresh air at that time - the only place I could readily get hold of what were then (and probably still are) relatively obscure LPs. I think me and a couple of mates probably bought nearly all their early US punk, psychodelia and garage (not the modern one - it used to mean something different then!) When short of cash, which was most of the time, we would take to hiding any rare records in obscure sections - easy listening didn't see much action - and then picking them up when we got some money.
Most Saturday afternoons were spent in there, followed by a mooch around Oasis Market and a pot of tea at Woolworths until we got thrown out. Pre-pub age, this was about as exciting as it got in Brum..