Property for saleAlma Street, Luton LU1
Local area information
- Luton Pentecostal Church Christian Academy 0.3 miles
- Luton 0.3 miles
- Bury Park Educational Institute (Al - Hikmah Secondary School) 0.4 miles
- Luton Airport Parkway 1.1 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Luton to find out more about the area.
Features and description
- High Yielding Investment
- Mixed Use Retail/Residential
- Town Centre Location
- Development Potential (subject to planning)
- Fully Let - Producing £19,296 per annum
- Rent Reflects 9.6% giy on Guide Price
- No VAT
Auction Sale - 18/07/2023
High Yielding Mixed Use Investment Opportunity
Fully Let Retail/Residential Investment Producing £19,296 per annum
The property comprises an end terrace property arranged across ground, first and second floors.
The ground floor is arranged as a single retail unit let to a cafe, whilst the upper parts are arranged as a single residential unit let to a private individual.
The property enjoys a prominent frontage to Alma Street, an established retail/residential street.
The property is located at the periphery of Luton Town Centre and is well located for all local amenities. The Galaxy retail/leisure centre is 0.1 miles to the north whilst the Mall Shopping Centre is 0.2 miles to the east.
The ground floor retail is let on a lease at a rent of £8,496 per annum (£708 pcm)
The residential upper parts are let on an AST producing £10,800 per annum (£900 pcm)
The property could be suitable for extension/development (subject to obtaining the requisite consents). This would likely include first and second floor extension to the rear and may allow for provision of two residential units to the upper parts.
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