Land for sale in 48-52 Reginald Street, Luton, Bedfordshire LU2

Description

Multi-let residential investment producing £154,380 per annum rent and comprising of 8 modern and recently refurbished self-contained apartments and a total of 24 bedrooms. The mid terraced premises were built in circa 1900 and span 3 floors. They are of traditional brick construction with a pitched roof and front and rear dormer window extensions. There is an external communal courtyard and off road parking for up to 3 vehicles.

All 8 apartments are separately connected to mains electric, water and gas. Gas, electrical, EPC, fire, emergency lighting, building control and planning certificates can be provided upon request.

48 Reginald Street:

48 Ground Floor (Front Side) producing £1,000 p.m. (plus bills)
• 696 sq ft (65 sq m)
• 2 bedrooms (each with en-suite), lounge, kitchen/diner.

Flat 1,48 First & Second Floors (Front Side) producing £1,000 p.m. (plus bills)
• 628 sq ft (58.31 sq m)
• 2 bedrooms (each with en-suite), lounge, kitchen/diner.

Flat 2,48 First & Second Floors (Front Side) producing £2,140 p.m. (inclusive of bills)
• 974 sq ft (90.52 sq m)
• 4 bedrooms (2 with en-suite), lounge, kitchen/diner, separate bathroom.

Flat 3,48 First Floor (Rear Side) producing £1,200 p.m. (plus bills)
• 602 sq ft (56 sq m)
• 3 bedrooms (1 with en-suite), lounge, kitchen/diner, separate bathroom.

50 Reginald Street:

Flat 1,50A Ground Floor (Front Side) producing £1,000 p.m. (plus bills)
• 539 sq ft (50 sq m)
• 2 bedrooms (each with en-suite), lounge/kitchen.

Flat 2,50B Ground & First Floor (Rear Side) producing £2,300 p.m. (inclusive of bills)
• 1,205 sq ft (112 sq m)
• 4 bedrooms (2 with en-suite), lounge, kitchen/diner, separate bathroom.

52 Reginald Street:

Flat 52A, Ground Floor (Front Side) producing £1,900 p.m. (inclusive of bills)
• 803 sq ft (74.58 sq m)
• 3 bedrooms (each with en-suite), lounge, kitchen/diner.

Flat 52, First & Second Floor (Front Side) producing £2,325 p.m. (inclusive of bills)
• 995 sq ft (131.73 sq m)
• 4 bedrooms (each with en-suite), lounge, kitchen.

Total rental income - £154,380 per annum gross (as at February 2023).

Where rentals are ‘inclusive of bills' the rental includes utility charges, Council Tax, internet and communal cleaning.

Location

The subject block is situated on the south side of Reginald Street, which is a one way road within the High Town suburb of Luton, just off Old Bedford Road. The premises are within walking distance of the town centre and importantly the train station (circa 0.3 miles). It has close access to London Luton International Airport and Luton & Dunstable Hospital.

Terms

The property is available to purchase upon a freehold basis at £1,750,000, subject to existing tenancies.

Legal Costs

Each party to bear their own legal costs incurred.

VAT

We are advised that V.A.T. Is not applicable.