Commercial property for sale in Alma Street, Luton LU1
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Property features
- High Yielding Investment
- Mixed Use Retail/Residential
- Town Centre Location
- Development Potential (subject to planning)
- Fully Let - Producing £19,296 per annum
- Rent Reflects 9.6% giy on Guide Price
- No VAT
Property description
Strapline
Auction Sale - 18/07/2023
High Yielding Mixed Use Investment Opportunity
Fully Let Retail/Residential Investment Producing £19,296 per annum
Description
The property comprises an end terrace property arranged across ground, first and second floors.
The ground floor is arranged as a single retail unit let to a cafe, whilst the upper parts are arranged as a single residential unit let to a private individual.
The property enjoys a prominent frontage to Alma Street, an established retail/residential street.
Location
The property is located at the periphery of Luton Town Centre and is well located for all local amenities. The Galaxy retail/leisure centre is 0.1 miles to the north whilst the Mall Shopping Centre is 0.2 miles to the east.
Tenancy
The ground floor retail is let on a lease at a rent of £8,496 per annum (£708 pcm)
The residential upper parts are let on an AST producing £10,800 per annum (£900 pcm)
Planning
The property could be suitable for extension/development (subject to obtaining the requisite consents). This would likely include first and second floor extension to the rear and may allow for provision of two residential units to the upper parts.
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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