Serviced Offices With Development Potential In West Norwood For Sale

Business description

Description:
The Business Partnership is delighted to bring to market this very stable, easily managed serviced office business situated in West Norwood, SE London.

The business has a long lease on the top two floors of a commercial premises overlooking the high street. One floor is occupied by several companies on a B1 serviced office basis. The business rents these offices out, typically on an initial 12 month tenancy, and separately charges for the other services provided, such as cleaning, telephony, furniture and broadband.

The top floor, currently unoccupied, is awaiting re-zoning for residential development and is available by separate negotiation.

Demand for serviced offices in Greater London increased by 11% for Jan-Sep 2011 compared to the same period in 2010 (Officebroker.com).

Premises Details:
The serviced offices are situated on the 2nd floor of a commercial building, accessed from a side street.

Planning Consent:
The business has B1 planning consent.

Property information

Property:

Leasehold

Lease terms:

The 125 year lease has 99 years left to run. Ground rent is £100 per year.

The business lets out the serviced offices on an initial 12 month tenancy, whereafter the tenancy continues indefinitely with a 2 month break clause. A 2 month rent deposit is received before occupancy starts.

Location:

The offices overlook a high street in West Norwood, SE London.

Business Operation

Reasons for selling:

The shareholders of the business wish to sell their interest as they separately wish to invest their funds in other commercial enterprises.