156 Leagrave Road, Bury Park, Luton, LU4 8HX

Description:

The property is arranged over ground and first floor, with forecourt, courtyard to the rear and lock-up storage units to the rear.

Ground Floor: At ground floor level there is a well maintained retail unit totalling 972 sq ft (90.28 sqm). The retail unit is let to a convenience store. A copy lease is available upon request. To the rear of the retail unit is an additional premises that STPP could be let as a studio apartment. At the time of writing, this part of the property is vacant.

First Floor: At first floor level there are two 1-bedroom apartments, both of which are let on assured shorthold tenancy agreements (ASTs).

Location:

The mid-terraced property is prominently positioned on Leagrave Road, overlooking the junction to Selbourne Road. Leagrave Road forms one of the main thoroughfares through the Bury Park suburb of Luton - a thriving commercial district. The surrounding area consists mostly of commercial premises with residential upper parts and side roads.

Terms:

The property is available to purchase upon a freehold basis, subject to the existing tenancies, for £950,000.

The commercial lease was dated 30.07.24 for a term of seven years. The passing rental is £30,000 per annum plus the two first floor apartments produce a total of £22,200 per annum. Total income currently £52,200 per annum.

Rateable Value:

The Rateable Value for the subject property is to be confirmed.

Legal Costs:

Each party to bear  their own legal and professional costs.

VAT:

We are advised that VAT is not applicable.