Investment Properties for sale in Luton

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London properties are pleased to offer to the market this Leasehold investment property is currently under-let for a period of 15 years from 2009 (expiring 2024),

Luton, England

  • Leasehold Price: £269,950
Seller Reference: Leagraveinvest
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Business Description
 
 
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Seller Reference: Leagraveinvest
Request Details
Business Description
LOCATION: The premises are prominently positioned within the Bury Park suburb of Luton, favored by the local Asian population.

DESCRIPTION: The lock up retail unit is mid terraced and, whilst currently let upon a lease at £18,000.00 per annum, will be sold with vacant possession. Aluminium double shop front, suspended ceiling with mixed lighting types, common area’ forecourt, and single W/C.

USES: A1/A2

TERMS: The premises are held upon a ground lease for a term of 125 years from 1990, thus 97 years remaining, at an annual ground rent of £50.00

SIZE: Approximately 548 sq ft

INCOME: The property is currently under-let for a period of 15 years from 2009 (expiring 2024), the lease stating that the tenant should pay £18,000 per annum, however due to poor business is in fact paying £14,400 per annum. The premises will be sold with vacant possession

BUSINESS RATES: We have verbally been informed by Luton Borough Council that the ratable value is £13,000.00.

LEGAL COST: Each party to bear their own legal costs incurred.

LOCAL AUTHORITY: Luton

REFERENCE CHARGE: London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non refundable after the references have been taken up, whether they are accepted or not by the Landlord.

HOLDING DEPOSIT: A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the London Properties client account

FIXTURE & FITTINGS: Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition

AGENT NOTE: London Properties for themselves for Lessors, Vendors and their agents, give notice that:- 1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries. 2. These details do not constitute any part of an offer or contract. 3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties. 4. All rent prices, fees and charges are quoted exclusive of VAT

VIEWINGS: Through London Properties by appointment only
Tenure:
Leasehold
Location Details:
London properties are pleased to offer to the market this Leasehold investment property is currently under-let for a period of 15 years from 2009 (expiring 2024), the lease stating that the tenant should pay £18,000 per annum, however due to poor business is in fact paying £14,400 per annum. The premises will be sold with vacant possession. Internal viewings highly recommended through London Properties by appointment only.
Leasehold Term:
The premises are held upon a ground lease for a term of 125 years from 1990, thus 97 years remaining, at an annual ground rent of £50.00
Listed by:
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