Land for sale in Mill Yard, Luton, Bedfordshire LU1

Description

Key Features:

• Rare Opportunity


• Town Centre Location


• Adjacent to Bute Street Carpark


• Near Luton Mainline Train Station


• Architecturally Interesting


• Allocated Parking


• Well-Maintained


• Suitable for Various Uses (STPP)

Arranged over ground and first floor with mezzanine/overcroft storage, the property offers a total of 3,884 sqft (360.77 m2).

In years gone by the property was one of Luton's many hat factories. It is now occupied The Bear Club (jazz bar) at lower level and various creative media professionals at upper level.

The original first floor has been removed to provide greater ceiling height at ground floor level. There is an argument to suggest this could be reinstated to increase the floor area.

Location

The property is located within Luton town centre and forms part of Mill Yard, accessed via both Guildford Street and Bute Street. The following are within proximity:

• Luton Mainline Train Station = 135m (2 minute walk)


• The Mall (Bute Street Entrance) = 191m (3 minute walk)


• Bedfordshire University = 421m (10 minute walk)

Terms

The premises are available to purchase upon a freehold basis for £575,000

Vacant possession can be provided from 31st June 2024. Should a purchaser wish to retain The Bear Club as a tenant, it is likely that a new lease could be agreed - it is understood that The Bear Club would like to remain in occupation.

Legal Costs

Each party to bear their own costs incurred.

VAT

Plus VAT at the appropriate rate, if applicable.

Rateable Value

The premises are rated as follows (please note these are not Rates payable):

• 24a Guildford Street = £13,750


• 78 Bute Street = £10,750