Description

Why This Property Is a Must-Buy

• Rare Freehold Opportunity in the Sought-After Bury Park
• Located in One of Luton's Most Thriving Commercial Districts
• High-Yield Investment with an Annual Income of £52,200
• Mixed-Use Property with Additional Revenue Potential
• Prime Location with Excellent Footfall and Accessibility

Location – Prime and Prominent

Situated on Leagrave Road near the junction with Selbourne Road, this property enjoys a high-visibility position on one of Bury Park’s busiest thoroughfares. The surrounding area is a vibrant mix of bustling commercial activity and residential communities, ensuring steady demand from tenants and businesses alike.

Property Overview – Exceptional Features

Ground Floor:

• Retail Unit: A well-maintained 972 sqft (90.28 m²) retail unit, currently let to a convenience store generating £30,000 per annum.
• Ground Floor Flat E: A compact 238 sqft (22 m2) studio apartment (STPP) at the rear, currently vacant, offering significant income potential once let.

First Floor:

• Flat C: A 1-bedroom apartment measuring 462 sqft (43 m2) let on an assured shorthold tenancy agreement (AST) at £10,200 per annum.
• Flat D: A larger 1-bedroom apartment measuring 527 sqft (49 m2) let on an AST at £12,000 per annum.

Additional Features:

• Front forecourt, rear courtyard, and secure lock-up storage units, enhancing the property's usability and appeal to tenants.

Investment Details – Strong Returns

Purchase Price: £900,000 (Freehold)

• Sale is subject to existing tenancies, providing immediate rental income.

Current Rental Income:

• Retail Unit: £30,000 per annum, with a lease expiring in July 2031 and a rent review due in 2027.
• Residential Apartments: £22,200 per annum combined (£10,200 from 
• Flat C and £12,000 from Flat D).

Total Rental Income: £52,200 per annum, with further potential to increase through:

1. Renting the vacant Ground Floor Flat E.
2. Benefiting from the rent review in 2027, likely to result in an upward adjustment.

Commercial Lease Summary:

• Lease Term: 7 years (expiring July 2031).
• Break Clause: July 2028, with 6 months’ prior notice.
• Rent Review: 3rd anniversary (upward-only open market basis).
• Security of Tenure: Excluded under the Landlord & Tenant Act 1954.

Key Selling Points

• Rare opportunity to own a freehold in Luton's bustling commercial district.
• Diversified and reliable rental income from both commercial and residential tenants.
• Immediate potential to grow income by letting the vacant Ground Floor Flat E.
• Ideal for investors seeking a high-yield property with long-term growth prospects in a prime location.

Additional Information

• Rateable Value: To be confirmed (visit GOV UK Tax Service for details).
• Legal Costs: Each party to bear their own legal and professional fees.
• VAT: Not applicable.

This is a Rare and Lucrative Investment Opportunity!

For more information or to arrange a viewing, contact:

• Sabbi Bains: 07894 414046
• Sam Bains: 07850 520642

Act now to secure this high-performing, mixed-use property in a thriving area. Opportunities like this don’t last long—call today!