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Rare Opportunity FOR SALE

For sale: £575,000.00|3,884 Sq Ft|Pubs/Bars/Clubs, Restaurant/Cafes, Office, Mixed Use, Licensed & Leisure, Offices, Other Property Types & Opportunities

Property details

FOR SALE£575,000.00
SIZE3,884 Sq Ft
ADDRESSMill Yard, Luton, Bedfordshire, LU1 2NR
TYPEPubs/Bars/Clubs, Restaurant/Cafes, Office, Mixed Use, Licensed & Leisure, Offices, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON29th April 2024

Description

DESCRIPTION:

Key Features:
- Rare Opportunity
- Town Centre Location
- Adjacent to Bute Street Carpark
- Near Luton Mainline Train Station
- Architecturally Interesting
- Allocated Parking
- Well-Maintained
- Suitable for Various Uses (STPP)

Arranged over ground and first floor with mezzanine/overcroft storage, the property offers a total of 3,884 sqft (360.77 m2).

In years gone by the property was one of Luton’s many hat factories. It is now occupied The Bear Club (jazz bar) at lower level and various creative media professionals at upper level.

The original first floor has been removed to provide greater ceiling height at ground floor level. There is an argument to suggest this could be reinstated to increase the floor area.

LOCATION:

The property is located within Luton town centre and forms part of Mill Yard, accessed via both Guildford Street and Bute Street.
The following are within proximity:
- Luton Mainline Train Station = 135m (2 minute walk)
- The Mall (Bute Street Entrance) = 191m (3 minute walk)
- Bedfordshire University = 421m (10 minute walk)

TERMS:

The premises are available to purchase upon a freehold basis for £575,000. Vacant possession can be provided from 31st June 2024.

Should a purchaser wish to retain The Bear Club as a tenant, it is likely that a new lease could be agreed – it is understood that The Bear Club would like to remain in occupation.

LEGAL COSTS:

Each party to bear their own costs incurred.

VAT:

Plus VAT at the appropriate rate, if applicable.

RATEABLE VALUE:

The premises are rated as follows (please note these are not Rates payable):
- 24a Guildford Street = £13,750
- 78 Bute Street = £10,750

Location

marker
Location: Mill Yard, Luton, Bedfordshire, LU1 2NR

Luton (0.1 miles)

Luton Airport Parkway (0.9 miles)

Leagrave (2.6 miles)

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