352 Leagrave Road

Luton

Ref: 6555

PROPERTY

352 Leagrave Road
Luton
Bedfordshire, LU3 1RF

DETAILS

The detached building is held freehold and is subject to various ground leases and 2 occupational leases. Tattoo Studio including 1 x car space Held upon a ground lease for 99 years from 22.05.87, expiring in circa 69 years. The current ground rent is £30.00 per annum but increases to £60.00 per annum with effect 2020 for 33 years, then £120 per annum for 33 years. Rateable value £6,700. . . .

The detached building is held freehold and is subject to various ground leases and 2 occupational leases.

Tattoo Studio including 1 x car space
Held upon a ground lease for 99 years from 22.05.87, expiring in circa 69 years. The current ground rent is £30.00 per annum but increases to £60.00 per annum with effect 2020 for 33 years, then £120 per annum for 33 years. Rateable value £6,700.00.

General Store/Off Licence including forecourt
Held upon a ground lease from 10.10.88 for 999 years. The occupational lease is for 7 years from 21.01.13 at £8,500.00 per annum, outside The 1954 Act. We believe the new lease is likely to be entered into with the tenant with a rental increase. Rateable value £4,400.00.

The lessee of this store has agreed terms to enter into a new ground lease for a term of 125 years with ground rent review every 25th year starting at £200.00 per annum and doubling at each review.

Cylex Car Wash
A lease renewal has been documented effective 16.02.20 for 10 years with break options at 16.02.25 and 16.02.28 at £12,000.00 per annum. Rateable value unknown.

Flat 4 Woodland House including 1 x car space
First and second floor, held upon a 99 year ground lease from 29.05.87, 67 years remaining. Ground rent as per the tattoo studio, i.e. £30.00/£60.00/ £120.00. Council Tax Band unknown.

Flat 3 Woodland House including 1 x car space
Ground, first and second floor, held upon a ground lease from 24.06.16 until 23.06.2175 at a peppercorn ground rental. Council Tax Band A.

Location: -

The prominent premises are located at the ‘T’ junction of Leagrave Road and Woodland Avenue.

Terms: -

Assuming the sale of the General Store/Off Licence completes, the sale of the freehold interest, the 2 shops and 2 flats, which should produce £260.00 per annum ground rent, plus the Car Wash which produces £12,000.00 per annum (total £12,260.00 per annum), is available at £153,250.00.

Rateable Value: -

Legal Costs: -

Each party to bear their own legal costs incurred.

VAT: -

Plus VAT at the appropriate rate if applicable.

Viewing: -

For further information or an appointment to view, kindly contact sole selling agents S R Wood & Son Ltd. Tel. 01582 401 221.

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STATS

Use Investment
Availability For sale
Sale price £153250
Annual rental -
Size (sq ft) 1000
Features Off-street parking

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