370a Hitchin Road

Luton

Ref: 6480

PROPERTY

370a Hitchin Road
Luton
Bedfordshire, LU2 7SR

DETAILS

The detached, brick built property benefits from an allocated car space and forecourt/garden area. The tenant operates as a children’s day care nursery. Astro turf/paved, gated forecourt. Twin w/c. Double glazing. Spot lighting. Laminate flooring. Radiator heating. Kitchenette. The premises are leased from 2016 for a term of 5 years, expiring 2021. The lease is a Law Society Leas . . .

The detached, brick built property benefits from an allocated car space and forecourt/garden area. The tenant operates as a children’s day care nursery.

Astro turf/paved, gated forecourt.
Twin w/c.
Double glazing.
Spot lighting.
Laminate flooring.
Radiator heating.
Kitchenette.

The premises are leased from 2016 for a term of 5 years, expiring 2021. The lease is a Law Society Lease. There was a break option (at early 2019) in the tenant’s favour which was not exercised. The tenant has paid a deposit of £2,700.00. The passing rent is £9,000.00 per annum exclusive. We are unaware if the lease is 1954 Act protected or not.

The tenant has indicated a desire to remain in situ upon a new lease possibly for 5 years at £9,000.00 per annum exclusive.

In addition the freehold includes the veterinary practice ground rent investment, along with upper part and 10 space car park adjacent (all sold off on a ground lease interest).

The first floor flat is held upon a 999 year ground lease from approximately 2010 with a peppercorn rental.

Location: -

The property lies to the rear of Vets 4 Pets, Hitchin Road, Luton, within the Round Green area, a short distance from the town centre.

Terms: -

The freehold is available for £125,000.00.

Rateable Value: -

We have verbally been informed by Luton Borough Council that the rateable value is £3,850.00.

Small Business Rate Relief: Subject to certain conditions, you will not pay Business Rates on a property with a Rateable Value of £12,000.00 or less.

Legal Costs: -

Each party to bear their own legal costs incurred.

VAT: -

We are informed V.A.T. is 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 £125000
Annual rental -
Size (sq ft) 379
Features

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