Mixed use for sale
Property description & features
- Tenure: Freehold
- Current Rent of £27,700 per annum
- Four Floors including basement
- Luton Town Centre
- Investnment opportunity
An Investment opportunity in the Town Centre of Luton available to purchase. A mixed use Property that comprises of a ground floor Indian restaurant and a 3-bedroom split level maisonette above. The ground floor retail unit with class E use, presented in excellent condition and measures 924.35 sq ft (approx), it comprises of a seating area for approximately 40 covers, open plan to kitchen, further kitchen towards the rear leading to storage rooms and a walk in refridgerator to the rear of the property, under the stairs leads to a W/C and access to the basement. The basement houses two further rooms currently used for storage.
The 3-bedroom split level maisonette has it's own entrance from the street, has class C3 use and measures 514.37 sq ft (approx) and comprises open plan kitchen / living area and bathroom to the first floor and three double bedrooms to second floor.
Both premises are currently occupied on separate tenancies, the Indian restaurant is on a long term lease for £18,000 pa with approximately 12 years remaining with a rent review every 3 years and the 3- bedroom maisonette is rented at £13,200 pa currently on a periodic AST agreement. The annual receipt of this is £31,200 per annum.
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