Holybrook Homes has bought the former Southgate Town Hall in north London from Enfield council for a residential redevelopment.
The developer is planning to convert the Green Lanes, N13, property, into up to 40 flats. The deal also includes a refurbishment of the adjacent library.
It is understood to have paid close to the circa £2m asking price for the building.
Councillor Andrew Stafford, Enfield council’s cabinet member for finance and property, said: “Southgate Town Hall is an important local landmark for many residents, and this deal allows us not only to provide much needed affordable housing, but to give local people a much better Palmers Green Library and potentially a new medical centre.”
Ed Priestley, development adviser at Deloitte Real Estate, which acted for the council, said: “Deloitte’s role included development and cost consultancy advice in relation to viability and potential for cross-subsidising the refurbishment of the adjacent Palmer’s Green Library, from any town hall disposal receipt.”
Work is expected to begin in summer 2014, and complete in late 2015.
joanna.bourke@estatesgazette.com
