Ground Floor Shop with Two Self-Contained One Bedroom Flats

OIRO £450,000

Location:

Luton which has a population of two hundred and twenty thousand combined with Dunstable is approximately thirty miles north of London.

This property is contained in the neighbourhood area of Round Green approximately one mile east of the town centre and a similar west of Stopsley local shopping centre.

Junction 10 of the M1 Motorway is within a fifteen minute drive of the property in good traffic conditions.

Description:

It forms the self-contained ground floor area of a two-storey building with two self-contained flats over.

Accommodation:

The following accommodation is provided:

  • Ground floor shop, gross internal area approximately 1,000 square feet/93 m2
  • First floor, two self-contained one bedroom flats each providing lounge/diner with fitted kitchen, bathroom and one double bedroom

Tenure:

Whilst the ground floor shop has vacant possession, the first floor flats are each let on assured shorthold tenancy presently achieving a combined rental income of £975 per calendar month but it is considered the combined market rental value of each flat is £1,200 per calendar month which could be increased in accordance with assured shorthold tenancy legislation.

Facilites:

Each unit is separately serviced with each flat benefiting from gas fired central heating.

Planning:

The property has been used for retail on the ground floor and residential on the first floor.

Purchasers are advised to verify with the local planning authority that the existing planning consent suits their requirements.

EPC:

An Energy Performance Certificate will be made available in respect of each unit.

Rateable Value:

Each unit is separately assessed.  The flats are rated for Council Tax whilst the retail unit has a rateable value of £16,750.

Legal Costs:

Each party to pay their own costs.

Viewing:

Accompanied viewing is strictly through owner’s sole agent Peter Hill Chartered Surveyors where Peter Hill is dealing with the matter.

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