Summary
The subject premises comprise two detached commercial buildings, each arranged over ground and first floor. Externally there is an enclosed yard and forecourt parking. The premises have been used for office and light industrial purposes for many years and are now available with vacant possession. They would suit a variety of uses under User Class E. For example: office, light industrial, gymnasium, leisure, gym, etc. Other uses may be suitable STPP.
25-33 Hastings Street:
Ground Floor = 2,000 sqft (185.80 m2)
First Floor = 594 sqft (55.19 m2)
NIA = 2,594 sqft (240.99 m2)
35-37 Hastings Street:
Ground Floor = 1,063 sqft (98.76 m2)
First Floor = 981 sqft (91.18 m2)
NIA = 2,044 sqft (189.94 m2)
Site Area (approx) = 6,330 sqft (588.08 m2)
Our client has submitted a pre-application to the Local Planning Authority for demolition of the premises and the development of a residential scheme. STPP it is felt that a residential development is viable (or conversion of the existing premises). Pre-application documents are available upon request.
Key Points
Two Detached BuildingsFringe Town Centre LocationEnclosed YardForecourt ParkingVacant PossessionDevelopment Potential (STPP)VAT
The VAT position is to be confirmed.
Costs
Each party is to bear its own legal and professional costs incurred.
Location
Luton is one of the largest towns in the UK without city status. The town has exceptional connectivity, benefitting from an international airport and three train stations with high-speed services to London St Pancras. The town is also served by various arterial routes, notably the M1 (J10, J11 & J11A), the A505 and the A6.
The subject premises are situated on the southern fringe of Luton town centre, just off the A505 inner ring road. All town centre amenities are within proximity, to include Luton Point (shopping centre), mainline train station, Bedfordshire University, shops, cafes, restaurants, pubs, banking, etc. London Luton Airport is within a short drive as well as J10 of the M1.
Terms
The premises are available to purchase together for £950,000. The interest is freehold and both buildings are available with vacant possession.