Property for sale
Property description & features
- Tenure: Freehold
- Commerical Property
- Freehold
- 2x One Bedroom Flats
- 1x Studio Flat
- Ground Floor Retail Unit
- Popular Bury Park Area
- Gas Central Heating
Promptmove are delighted to present this incredible opportunity to buy a large property comprising of a spacious ground floor retail unit, a ground floor studio flat, 2x ground floor storage units and 2x first floor one bedroom flats in the popular BURY PARK area of Luton.
The ground floor retail unit measures 7.4m x 12.2m and comprises 90 sq. meter (approx.) and double-glazed windows to the property's front elevation. The property also benefits from a utility room and storage space to the rear of the property.
The ground floor studio flat comprises a living space, a fitted kitchen and shower room. The first floor one bedroom flats comprises a Kitchen/Diner, lounge, shower room and a double bedroom. The property also benefits from communal space and two storage units to the rear of the property.
The retail unit is currently tenanted with periodic lease and sees a rental income of £30,000 per annum. The studio flat is achieves a rental income of £750 per calendar month (£9,000 per annum). The first floor flats achieve a rental income of £850 per calendar month each, (totals £20,400). This gives a total income circa £59,400 per annum. The commercial lease and rents also has a rent review every years with the next review due later in 2025, giving an opportunity to increase the total rental income of the property. There's two storage units currently empty which can achieve an approximate £500 per calendar month (£6,000 per annum).
If fully tenanted, the property is likely to give a investment yield approximately of 7% however it has potential to be increased if further developed upon.
Contact us for more information and to arrange a viewing on[use Contact Agent Button].
Places of interest
See more properties like this:
*DISCLAIMER
Property reference PM-LeagraveRoad156. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Prompt Move - Luton.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.