Auction House London

Lot 60

Mixed Use - Commercial Property 

21 John Street

Luton, Bedfordshire, LU1 2JE

£390,000+

Guide Price (plus fees)

A Commercial and Residential Investment Producing £31,200 Per Annum. Offered with Planning Permission to Erect Another Floor to Create an Additional Flat.

Description

The property comprises a mid terrace building arranged to provide a ground floor shop with two x one bedroom flats above.

Tenure

Freehold

Location

The property is situated in the heart of Luton close to local shops and amenities. The open spaces of Stockwood Park are within easy reach. Transport links are provided by Luton rail station (0.3 Miles).

Planning

Luton Borough Council granted the following planning permission (ref:18/00820/FUL) on 29th August 2018: 'Conversion and change of use of ground floor from A3 to 1 bed flat and 3rd floor extension to create additional flat and relocation of enclosed fire evacuation stairs' (We have been advised by the vendor that the works have already been started therefore the planning permission is still valid).

Accommodation & Tenancy Schedule

Property Floor Accommodation Tenancy Details Current Rent
Shop Ground Shop Area Let on a 10 Year Lease from 2021 £12,000 pa
First First Reception Room, Kitchen, Bedroom, Bathroom Let on an AST at £800 pcm £9,600 pa
Edit Second Reception Room, Kitchen, Bedroom, Bathroom Let on an AST at £800 pcm £9,600 pa

Additional Fees

Administration charge: £1,200 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

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For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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