A 14,019 sq ft office building in London Road, Southampton has been sold to a local private investor for development into residential premises under the permitted development legislation.
BNP Paribas Real Estate, who have transacted over 140,000 sq ft of office space with residential change of use in Southampton, were responsible for the deal.
Nigel Pugsley, head of BNP Paribas Real Estate’s Southampton planning team, said: “Permitted development represents a real opportunity to secure a higher value use for underperforming office stock. We are providing expert advice to an ever increasing number of clients wishing to investigate how they too can benefit from this change to the planning system.”
Written by Richenda Oldham
9 Jan 2017
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