49-51 Princess Street, Luton, LU1 5AT

Summary

The freehold, mid-terraced, two-storey and pavement lined buildings have been converted to 5 apartments. In addition, there is a two-storey rear brick building that - STPP - lends itself to further residential conversion (x2 one-bedroom apartments). Planning was granted for the same but has now expired due to non-implementation. Also to the rear of the property is space for the parking of approximately 2 vehicles.

It is felt there is potential for rental increase by active management, although the passing rent is as follows:

- 49a Princess Street – ground floor | 1 bedroom | £5,400 pa.
- 49b Princess Street – first floor | 1 bedroom | £9,000 pa.
- 51a Princess Street – ground floor | large studio | £9,000 pa.
- 51b Princess Street – first floor | 2 bedroom | £11,100 pa.
- 51c Princess Street – ground floor | large studio | £8,400 pa.

The total rent roll = £42,900 per annum. All tenants pay their own council tax and utilities apart from 51a/b/c where gas and water is included within their rental.

Key Points

VAT

We are advised by our client that the property is not elected for VAT.

Legal Costs

Each party is to bear its own costs incurred.

Location

Terms