Southampton: Freehold offices sold for residential conversion

Pullen Associates have sold a freehold office building in central Southampton for conversion back to residential use.

The property, located in The Avenue, comprised a former residential house which had been used as offices for over 30 years.   The 1,251 sqft (116 sqm) property was offered for sale and following the recent change to the permitted development order, which came into effect at the end of May 2013, interest was received in the property from both office occupiers and residential investors.   Richard Pullen, Director of Pullen Associates says that 'as the property provided cellular accommodation, the level of interest from office occupiers was limited due to the inflexible layout of the accommodation, and therefore most interest was received from investors and developers looking to convert the property back into residential use.   Offers were received from office occupiers looking to purchasea building for thier own occupation as well as from investors considering the potential for both uses'.