Auction House London

Lot 54

Mixed Use - Commercial Property 

21 John Street

Luton, Bedfordshire, LU1 2JE

£360,000+

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).

Addendum

We understand that new tenancies have been signed on the flats since the original contracts have expired.

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
Flat A First Reception Room, Kitchen, Bedroom, Bathroom Let on an AST at £800 pcm £9,600 pa
Flat B Second Reception Room, Kitchen, Bedroom, Bathroom Let on an AST at £800 pcm £9,600 pa

Additional Fees and Disclaimer

Administration charge: £1,500 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.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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