Summary
The Bank is aptly named given its former use by NatWest. Our client has secured planning consent which will see the upper floors converted to modern living accommodation.
S.R. Wood & Son are instructed to market for lease the ground floor and basement commercial accommodation, which extends to: 4,832 sqft (449 m2).
The property has been stripped of its former fit-out which was specific to NatWest bank. It is therefore ready for a commercial occupier to carry out their corporate fit-out without having to strip out the former bank’s fixtures and fittings.
Key Points
Town Centre LocationHighly Prominent PositionRent Incentives Available (STC)New LeaseClass ERateable Value
The rateable value for the ground floor and basement is £25,750 (please note this is not rates payable).
VAT
Plus VAT at the appropriate rate if applicable. The VAT position of the property is to be confirmed.
Costs
Each party is to bear its own costs incurred.
Location
Dunstable is an historic market town located immediately west of Luton, forming part of the wider Luton/Dunstable conurbation. The town benefits from good road connectivity, situated just off Junction 11/11a of the M1 motorway. The A5 and A505 also serve the town. Luton’s mainline railway stations and London Luton Airport are both easily accessible, enhancing the town’s regional and national transport links.
The property occupies a highly prominent position, overlooking the busy town centre junction which connects High Street North, High Street South, West Street and Church Street. All town centre amenities are within proximity which include a number of public carparks, shops, banks, eateries, pubs, supermarkets, drive-thru and retail parks. Dunstable town centre is favoured by a mixture of local, regional and national occupiers.
Terms
The ground floor retail space and basement is available by way of a new lease, on effective full repairing and insuring terms, at a rent of £88,900 per annum exclusive.
Our client will give consideration (subject to contract) to a rent free period to assist the ingoing tenant with their fit-out of the property.