BIC Innovation Centre, Electric Avenue , Enfield, EN3 7XU

The Business Innovation Centre comprises a purpose built detached office/business facility providing a net internal area including meeting rooms, reception area etc of about 2,544 sq m with 138 car parking spaces. The property was constructed in the late 1990’s to provide a selection of office/business units for smaller/incubator occupiers supported by meeting rooms and conference and catering facilities.

The property is located at the gateway to Enfield Commerce comprising part of Innova Park a mixed development about 1.5 miles from Junction 25 of the M25 motorway.

The property presently produces a gross income of circa £418,000 (based upon current 65% occupancy) with the opportunity to substantially increase turnover through asset management. The projected annual income based upon present letting rent of £27.50 per sq ft is £680,640 plus additional conference/meeting room income potential.

The property offers the opportunity for the provision of additional floor space and car parking provision, subject to planning permission.

The property is available freehold with separate freehold over the car parking area, subject to payment of an estates service charge, and our client seeks offers in the region of £4m, reflecting a low capital value of £146 per sq ft.

VAT is payable.