The lock up retail unit is mid terraced and, whilst currently let upon a lease at £XXX 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.
Location
The premises are prominently positioned within the Bury Park suburb of Luton, favored by the local Asian population.
Accommodation
Approximately 548 sq ft
Terms
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 £XXX
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 £XXX per annum, however due to poor business is in fact paying £XXX 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 £XXX
Legal Costs - Each party to bear their own legal costs incurred.
Local Authority - Luton
Reference Charge - London Properties charges a fee of £XXX 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
Fixtures & 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