Reference 29131
Address Luton Town Centre, Bedfordshire
(Map Location)
Beds 26
Baths 26
Type Block of Apartments
Tenure Freehold

Mixed-use freehold investment property near London (Luton). The building consists of 26 lovely apartments plus a supermarket. Excellent £230,000 gross annual return.

Description

Mixed-use freehold investment property near London (Luton):

• Recently constructed five story building with modern fixtures and fittings

• The building consists of 26 one and two bedroom apartment properties plus a large retail unit

• Gross internal size 23,788 square feet (2,210 square metres), plus external parking areas

• Excellent £230,000 ERV gross income return

• 100% occupancy of the properties – fully-let – ensures maximum landlord income

• Over £200,000.00 spent on internal and external refurbishments in 2014 and January 2015

• Modern uPVC double glazing throughout, including double French door balconies

• Fully-fitted Omega oak kitchens with modern Italian tiled bathrooms (not shower rooms)

• Integrated fridge-freezers, ovens and premium Bosch washing machines/appliances

• Modern oak laminate flooring and carpeted common areas

• Professional, certified fire alarm systems with Automatic Opening Ventilation (AOV) system

• Secure digital door entry and intercom systems and sixteen camera IP recording CCTV system

• Eight person lift, together with front and rear wide staircases

• Eight private car parking spaces (twenty completely free spaces in total)

• Development plans to add a mansard roof for seven further apartments worth c.£700,000

• Website available showing floor plans and lot's of additional information

• £1 Million profit on break-up potential (£3.8m break-up value at £125,000 per apartment plus retail unit plus ground rents)

Please contact us for further information and a viewing.


Features

  • Alarm
  • Double glazed
  • Garage
  • Parking
  • Washing machine
  • White goods
  • Garden
  • Cable/Satellite
  • Broadband/ADSL

Map Location