An existing HMO with residential development potential.
The site is located on Windsor Street and is approximately 5 minutes’ walk to the town centre and 12 minutes’ walk from Luton Railway station which provides regular services into London St Pancras in approximately 35 minutes.
The existing building is a fully licensed HMO comprised of 12 bedrooms, set over ground and first floors. 9 of the 12 units are tenanted with a current passing rent of £36,800per annum. The ERV once fully let is £48,000 per annum which would produce a gross yield of 5.6%. There is a large surface car park occupying approximately 50% of the site which has significant road frontage. The site extends to approximately 0.14 acres.
Planning exists for the change of use of the original pub to the existing 12 bedroom HMO. There is potential to seek planning consent to construct a new build extension over the carpark (including perhaps an extra floor on the existing) or to demolish the existing structure and build new, from the ground up, across the site.
Existing HMO With Significant Development Potential
Type: Residential, Flat, Residential Land
12-14 Windsor Street, Luton, Bedfordshire, LU1 5DTGBBedfordshireLU1 5DTWindsor Street
A formerly detached two storey Victorian property providing ground and first floor office accommodation along with an existing single storey motor vehicle workshop with independent vehicular access, to the side and extending to the rear.
( Agency Pilot Software Ref: 12053 )
Office And Garage At, 29 Farley Hill, Luton, LU1 5EE
Type: Office, General Industrial, Residential, Showroom, Offices, Industrial, Other Property Types & Opportunities
Office And Garage At, 29 Farley Hill, Luton, LU1 5EEGBLuton, LutonBedfordshireLU1 5EE7, Farley Hill
A two storey mid terraced hose with side access to a small yard Ground floor self-contained flat with basement room (currently tenanted receiving £7,200 per annum) First floor and attic accommodation comprising of a 6-bedroom Home of Multiple Occupancy (HMO), which is currently vacant Investment / development opportunity Electricity and Water Carpeted Gas central heating Small yard EPC - C (71) EPC - C (69)