Land for sale
Property description & features
- Tenure: Freehold
- Approved Planning Permission
- GDV: circa £9.5m
- 40 Residential units
- 3 Commercial Retail Unit
Venture Commercial are pleased to present the opportunity to purchase a sizeable plot of development Land in the Leagrave area of Luton with approved Planning Permission to erect a luxurious 4 storey apartment building with 40 residential flats 3 Class E Commercial Units and with provisions for off road parking. Please refer to the Planning Reference 20/00706/FUL on the Luton Borough Planning Portal for more information.
The development will comprise of 14 x 1-bedroom flats, 22 x 2-bedroom flats and 4 x 3-bedroom flats, off road parking for 24 vehicles (3 of which are to be designated disabled parking), 3 bicycle racks with a capacity for 10 bicycles each, 10 off road parking spaces for motorcycles and stunning amenity spaces. The property will also benefit from 3 electric vehicle charging points and 3 commercial retail units measuring between 583 - 753 sq. ft (approx.) each. 27 of the residential dwellings will also boast large private balcony spaces with excellent views.
Once the site has been constructed, we anticipate that the GDV will be in the region £9.5m. This opportunity would be perfect for a highly experienced developer or BTR investment company who have worked on sites of this nature in the past. We have been informed that there is section 106 contribution in the region of £140,000 and a provisions for affordable housing for up to 6 units on the site.
The site is located on the busy High Street of Leagrave Luton amongst several residential communities and smaller retail units and is just a short walk away from Leagrave Train Station providing direct access to Central London in under 40 minutes by train. London, Buckinghamshire, Hertfordshire and the Midlands are also easily accessible as the Property is located a short 5-minute drive (approx.) from J11 of the M1.
Contact us at Venture Commercial on[use Contact Agent Button] for more information and to arrange a site viewing.
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