Developer Hollybrook Homes has exchanged contracts with Enfield Council in a deal which will see the former Southgate Town Hall building extended and converted into up to 40 flats.
The deal will also see the £4.45 million refurbishment of Palmers Green Library, which is based at the site on the corner of Green Lanes and Broomfield Lane, and potentially also a new medical centre.
Building work is expected to begin next summer for completion in late 2015.
Andrew Stafford, the council's finance and property lead, said the deal would preserve a characterful building, provide new homes, and offer enhanced community facilities.
“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,” he said.
“We are delighted to work with Hollybrook Homes to deliver this ambitious and exciting project which is the right deal at the right time for Enfield Council and the community in Palmers Green.”
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