10 bed block of flats for sale

50 Cheapside, Luton, Bedfordshire LU1

For sale by auction on

Wednesday 22nd October 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 substantial freehold building, comprising nine x studio flats and a one-bedroom apartment, with a HMO licence. Located in a prime central position close the mainline station and the Arndale shopping centre with all units currently being tenanted, producing an annual income of £83,760.

Description
A fully licensed HMO (House of Multiple Occupancy) comprising nine x generous sized en-suite studio flats over three floors and a self-contained one-bedroom basement apartment. Each studio has an living/bedroom area, en-suite shower room and kitchenette area. On the ground floor is also a fully equipped kitchen and a laundry area with the washing machines and tumble dryers being coin operated. Each studio and the basement apartment are independently metered for utilities, payable by the tenants. Each studio is furnished including a bed, bedside cabinets, a wardrobe, and a fridge-freezer.

The property was renovated and extended in 2023 and has been finished to a very high standard and produces rental income of £83,760 per annum. To the rear of the property is a privately gated parking area for several vehicles which is accessed from the street via a shared driveway adjacent to the property.

Tenancy
Studio 1 is subject to an Assured Shorthold Tenancy producing £650 pcm.
Studio 2 is subject to an Assured Shorthold Tenancy producing £650 pcm.
Studio 3 is subject to an Assured Shorthold Tenancy producing £700 pcm.
Studio 4 is subject to an Assured Shorthold Tenancy producing £675 pcm.
Studio 5 is subject to an Assured Shorthold Tenancy producing £650 pcm.
Studio 6 is subject to an Assured Shorthold Tenancy producing £595 pcm.
Studio 7 is subject to an Assured Shorthold Tenancy producing £685 pcm.
Studio 8 is subject to an Assured Shorthold Tenancy producing £750 pcm.
Studio 9 is subject to an Assured Shorthold Tenancy producing £800 pcm.
Flat 50A is subject to an Assured Shorthold Tenancy producing £825 pcm.
Total monthly income: £6,980. Total annual income: £83,760.

EPC Rating
D


VAT
VAT is not applicable

Viewings
We will be holding open-house viewings at the beginning of October. As soon as the dates and times have been set, we will let everyone know who has registered for the legal pack via e-mail, and they will also be published on our website.

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