Freehold of a mid-terrace block arranged over five floors together with basement. The ground floor is trading as a tanning shop and the basement as a private members club.
The upper floors are all offices.
( Agency Pilot Software ref: 103446 )
Location
The premises are located within Luton, on Upper George Street, immediately to the west of the main town centre. Luton is the largest town in Bedfordshire, with a strong manufacturing base and population of approximately 200,000 and is located approximately 30 miles north of central London, being located immediately to the east of the M1, and approximately 11 miles north of the M25. The town is located on the Thameslink railway line providing fast and frequent services to London and has its own airport.
Accommodation
Approx 14,474 sq ft (1,344.68 m2)
Terms
Lease Terms The ground floor is let out to Platinum Tanning is occupied by way of a five-year lease expiring in October 2023 with a current rent of £13,200 per annum and the basement is occupied by After 8 Entertainment on a similar lease at a rent of £10,000 per annum. Both leases are within the security of tenure provisions of the Landlord & Tenant Act 1954. The upper floors are occupied by a variety of tenants, and we advised that the agreements can be ended reasonably easily. All leases are excluded from the security of tenure provisions of the Landlord & Tenant Act 1954. The total rental income from the offices if £73,620 per annum. We are advised that the property could be sold with vacant possession of these floors if the purchaser wished. Copies of all leases are available on request
Ownership We are advised that the property is owned freehold with clean title.
EPC Basement – E-120 Ground Floor Shop- D- 82 Offices and communal areas- E- 108
Asbestos No asbestos-containing materials were evident during a survey conducted in 2019. Asbestos report available on request.
Services All main services are connected with the exception of gas; however, this is assumed to be available in the street.
VAT There is no VAT payable