9 bed block of flats for sale

Frederick Heights, 113-115 Frederick Street, Luton, Bedfordshire LU2

For sale by auction on

Wednesday 25th June 2025 at 12:00 pm

Auction Venue: Delta Marriott Hotel Timbold Drive, Milton Keynes, Buckinghamshire MK7 6HL

This is an in-room auction which will also be live-streamed with availability for internet, telephone and proxy bidding.

A block of nine x one bedroom apartments, well located in Luton only 0.7 miles from Luton town centre and mainline station.

Description
The conversion to 8 x 1 bedroom apartments and a 1 x duplex apartment with 1 bedroom was completed in 2009, passing all requirements of planning and building control. All apartments are self-contained with accommodation comprising sitting/dining/kitchen, bedroom and bathroom each with their own independent electricity and water meters. Outside there is off road parking and a communal garden with a public car park next to the park and parking at the rear of the actual premises. There is also potential to build further at the rear subject to local planning authority consents.

At present apartments 1,2,3,4,5 and 6 are rented, generating an annual rental income of £51,000, and apartments 7,8 and 9 are vacant after being recently refurbished. The location of the properties is at the upper end of Frederick St and across the road from The People's Park on Havelock Rd, and within close proximity to Luton Train Station via High Town Rd and the main town centre.

Tenancy
Apartment 1 is subject to an Assured Shorthold Tenancy producing £600 pcm.
Apartment 2 is subject to an Assured Shorthold Tenancy producing £700 pcm.
Apartment 3 is subject to an Assured Shorthold Tenancy producing £875 pcm.
Apartment 4 is subject to an Assured Shorthold Tenancy producing £875 pcm.
Apartment 5 is subject to an Assured Shorthold Tenancy producing £600 pcm.
Apartment 6 is subject to an Assured Shorthold Tenancy producing £600 pcm.
Apartment 7 is vacant.
Apartment 8 is vacant.
Apartment 9 is vacant.

1: Tbc, 2: E, 3: Tbc, 4: Tbc, 5: Tbc, 6: Tbc, 7: D, 8: Tbc, 9: Tbc.

VAT
VAT is not applicable

Viewings
These are open-house viewings; you do not need to make an appointment, you can simply attend between the published times.

Fri 13th Jun 13:00 - 13:45
Fri 20th Jun 13:00 - 13:45

Buyers Premium
There is no Buyer's Premium payable on this lot.

Administration Charge
Purchasers will be required to pay an administration fee of £1,500 incl. VAT