Retail premises for sale in Waller Avenue, Luton LU4

Venture Commercial are proud to present this incredible opportunity to buy a large property comprising of a spacious ground floor retail unit and a 5 bedroom house. The property benefits from off-road parking and Class C3, E(c)(i) and E(a) use.

The ground floor retail unit measures 1,313 sq. Ft (approx.) and comprises of 1,016 sq. Ft (approx.) of Zone A space with tiled floors and double glazed windows to the front and side elevation of the property. The property also benefits from staff toilets and storage space to the rear and first floor of the property.

The 5-bedroom house comprises of a Kitchen and Lounge to the ground floor and 5 bedrooms to the first floor alongside a shower room and a bathroom. The property also benefits from a sizeable garden and double garage to the rear of the property.

The retail unit is currently tenanted with 9 years remaining on the lease and sees a rental income of £14,000 per annum whilst the 5-bedroom house is offered vacant with the prospect of achieving a rental income of £1,500 per calendar month (£18,000 per annum) giving a total income circa £32,000 per annum. The commercial lease also has a rent review every 4 years with the next review due later in 2023 giving an opportunity to increase the total rental income of the property.

If fully tenanted, the property is likely to give a investment yield above 5%.