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AGENT'S DETAILS


Sunrise Industrial Estate, 324 Hitchin Road, Luton, LU2 7SR

For sale: £1,450,000.00|14946 Sq Ft|Industrial, Light industrial, Office, General Industrial, Industrial Park, Warehouse, Storage, Retail - High Street, Trade Counter, Land, Mixed Use, Showroom, Offices, Retail, Commercial Land, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£1,450,000.00
SIZE14946 Sq Ft
ADDRESSSunrise Industrial Estate, 324 Hitchin Road, Luton, LU2 7SR
TYPEIndustrial, Light industrial, Office, General Industrial, Industrial Park, Warehouse, Storage, Retail - High Street, Trade Counter, Land, Mixed Use, Showroom, Offices, Retail, Commercial Land, Other Property Types & Opportunities
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON14th October 2020

DESCRIPTION

The Sunrise Industrial Estate comprises an established industrial estate extending to 14,946 sq ft (1,388.64 sq m).

The estate comprises of a part single and part two storey building at the front of the estate originally dating back to the turn of the last century with subsequent extensions which has been converted into a mixture of office and light industrial accommodation.

To the rear of the property are three interconnected industrial units occupied for the purposes of vehicle repairs together with tenant car parking. The estate sits on a site of 0.657 acres (0.26 ha).

The estate is let in accordance with the attached tenancy schedule and produces a current income of £56,650 per annum with a estimated rental value of £107,700 per annum.

The current income does not reflect current market levels. Rents have been kept at artificially low levels whilst the vendor negotiated simultaneous lease expiry dates in order to facilitate a re-development of the estate.

All leases exclude the security of tenure provisions of the Landlord & Tenant Act 1954 (as amended). Copies of the leases and licence agreements are available.

We are instructed to seek offers in excess of £1,450,000 to show a purchaser a potential net yield of 7.0%.

LOCATION

Location: Sunrise Industrial Estate, 324 Hitchin Road, Luton, LU2 7SR

Luton (0.8 miles)

Luton Airport Parkway (1.3 miles)

Leagrave (2.6 miles)

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