Land for sale in 48 Alma Street, Luton, Bedfordshire LU1

Description

This mixed-use property is of brick construction with a pitched tiled roof and there is a single storey extension to the rear. The ground floor is formed of commercial accommodation, currently let to a food and beverage occupier. There is a sales/seating area to the front, with a commercial kitchen to the rear. The upper two floors form residential accommodation and are let to a separate tenant.

The property is fully let and therefore income producing. The passing rents are as follows:
•Commercial = £8,496 per annum exclusive
•Residential = £10,800 per annum
•Total Income = £19,296 per annum

Location

The end of terrace property is located on Alma Street, within Luton town centre. The surrounding area consists of a mixture of residential and commercial premises. Furthermore, the below are within proximity.

•Luton Mainline Train Station = 9 minute walk
•Bedfordshire University = 14 minute walk
•London Luton Airport = 13 minute drive
•Luton & Dunstable Hospital = 15 minute drive

Terms

The property is available to purchase upon a freehold basis for £305,000. The sale of the property is subject to both the commercial and residential tenancies.

Legal Costs

Each party to bear their own legal costs incurred.

VAT

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

Rateable Value

The Rateable Value of this property is £5,400 (please note that this is not the rate to pay)