SoldOffice Investment / Development Opportunity For Sale - Enfield EN1
Potential For Residential Conversion (68 Flats)
Southbury House,
280-286 Southbury Road, Enfield Town, ENFIELD EN1 1TRThe premises are well located, both in terms of road and rail communications.
The M25 Motorway and The A406 North Circular Road are equidistant and less than 2 miles from the property. Southbury Rail Station, which provides regular 30 minute services to London Liverpool Street Station is a few minutes walk from Southbury House.
The following bus services are accessible in the immediate vicinity of the subject property: 121 (Enfield Lock/Turnpike Lane), 191 (Brimsdown/Edmonton Green), 307 (Barnet/Brimsdown) and 313 (Chingford/Potters Bar).
Completely refurbished in 2006, Southbury House provides five floors of flexible open plan office space, arranged in two separate wings each of which has its own entrance. The property is DDA compliant, benefits from 3 passenger lifts, suspended ceilings, category II lighting, air conditioning, secondary glazing, perimeter trunking, dedicated on site management, male and female WC facilities on each floor and 75 on site car parking spaces.
Existing occupiers include Coffey Group, Database Sales Limited, Reed Recruitment, Westminster Homecare, Fortuna International and Serco Group PLC.
Approximately 50% of the building is currently let.
The costs relating to the vacant space have been mitigated by virtue of a flexible letting arrangement of the empty space, which reduces the business rates payable on the remaining vacant space to 15% of that which would otherwise be payable.
A prior notification application for a 68 unit scheme comprising 15 x studios, 18 x 1 bedroom flats and 35 x 2 bedroom flats was submitted to the London Borough of Enfield for change of use from office (B1a) to residential.