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Property details
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Land for sale in 43-51 Adelaide Street, Luton, Bedfordshire

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Land for sale

0.2 ac*

Property description

Description

The asset currently comprises in brief:

• 2 x 1 bedroom apartments.
• 1 x 6 bedroom (singles) HMO.
• 1 x vacant 2 storey office/workshop.
• 26 x car parking spaces.

Current income circa £45,000 per annum exclusive.

The site has been the subject of various planning applications, some approved, some withdrawn.

It is felt however that the site is suitable for residential development, potentially for somewhere in the region of 18 apartments. Please visit Luton Borough Council Planning Portal for further information.

The freehold asset is held in a ‘special-purpose vehicle'. The shares in the company can be sold, giving the buyer a financial saving on sdlt.

Location

Adelaide Street is located within Luton town centre, just on the outside of the ring road, in close proximity to Luton Police Station, in a primarily residential area. The site has a pedestrian access off Princess Street.

Terms

The spv/asset is available for £1,150,000.

Legal Costs

Each party to bear their own legal costs incurred.

VAT

Plus V.A.T. At the appropriate rate if applicable.

Transport Schools Healthcare Food stores Restaurants/bars Sports/health clubs Parks/recreation

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by S.R. Wood & Son Ltd, and do not constitute property particulars. Please contact S.R. Wood & Son Ltd 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.