ADDRESS48 Alma Street, Luton, Bedfordshire, LU1 2PL
TYPEMixed use, Flat, General Retail, Retail - High Street, Other Property Types & Opportunities, Residential, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON11th November 2024
Description
Description: The mixed-use property is of brick construction with a pitched tiled roof and there is a single storey extension to the rear. The ground floor is formed of commercial accommodation, currently let to a food and beverage occupier. There is a sales/seating area to the front, with a commercial kitchen to the rear. The upper two floors form residential accommodation and are let to a separate tenant.
The property is fully let and therefore income producing. The passing rents are as follows:
- Commercial = £8,496 per annum exclusive - Residential = £10,800 per annum - Total Income = £19,296 per annum
Location: The end of terrace property is located on Alma Street, within Luton town centre. The surrounding area consists of a mixture of residential and commercial premises. Furthermore, the following are within proximity: - Luton Mainline Train Station = 9 minute walk - Bedfordshire University = 14 minute walk - London Luton Airport = 13 minute drive - Luton & Dunstable Hospital = 15 minute drive
Terms: The property is available to purchase upon a freehold basis, for £305,000. The sale of the property is subject to both the commercial and residential tenancies.
Legal Costs: Each party to bear their own legal costs incurred.
VAT: Plus V.A.T. at the appropriate rate if applicable.
Rateable Value: The property has Rateable Value of £5,400 (please note that this is not the Rate to pay).
