A ground floor self-contained shop secured on a lease in the sought after area of Stopsley village with a first floor one bedroom flat, recently reroofed, requires updating.
Potential to extend to the rear.
Title
The property is secured under Title BD327942.
Location
Luton which has a population of two hundred and fifty thousand people when combined with Dunstable, straddles junctions 10 and 11 of the M1 motorway.
The property is contained in the sought after secondary shopping area of Stopsley village on the eastern edge of the town two miles from the town centre and one mile from London Luton Airport.
Description
It comprises a two storey, end of terrace building which provides a ground floor self-contained lock up shop and a self-contained first floor effectively one bedroom flat.
Accommodation & Facilities
Ground Floor Shop:
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- Gross internal area 400 sq ft/37.161m2
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First Floor One Bedroom Flat:
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- Single phase electricity
- Mains lighting and power
- Mains drainage
- On street car parking is available
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VAT
No VAT is payable on the purchase price.
Planning
Whilst prospective purchasers should verify the planning position with the local planning authority (luton.gov.uk) the planning history of the property has an established use of retail on the ground floor and residential on the first floor.
Rateable Value
The Valuation Office Agency website (voa.gov.uk) indicates a rateable value of £9400.
Lease Terms
The ground floor is secured on a ten year lease dated 19th December 2022 at a passing rent of £12,000 per annum subject to rent reviews in 2026 and 2029 and a tenant only break in December 2023 and December 2027. The tenant may be open a surrender.
The first floor will be vacant.
Legal Costs
Each party to pay their own legal costs.
Energy Performance Certificate
An Energy Performance Certificate will be provided.
Viewing
Viewing is strictly by appointment through Peter Hill Chartered Surveyors on 01582 724828/07973 148576.