38-38A West Street

Dunstable

Ref: 7410

PROPERTY

38-38A West Street
Dunstable
Bedfordshire, LU6 1TA

DETAILS

The Grade II listed building, believed to date back to 1590 in part, comprises 2 retail units plus 2 separate 1 bedroom flats above, all having been refurbished approximately 7 years ago, under a slate roof. The flats have a private rear access. Shop 1 (no. 38) Internal frontage 4.30m. Internal depth 3.20m. Front sales area 155 sq ft/14.40 sq m. Rear sales area 105 sq ft/9.75 sq . . .

The Grade II listed building, believed to date back to 1590 in part, comprises 2 retail units plus 2 separate 1 bedroom flats above, all having been refurbished approximately 7 years ago, under a slate roof. The flats have a private rear access.

Shop 1 (no. 38)
Internal frontage 4.30m.
Internal depth 3.20m.
Front sales area 155 sq ft/14.40 sq m.
Rear sales area 105 sq ft/9.75 sq m.
Staff room 35 sq ft/3.25 sq m.
W.c.
Basement 120 sq ft/11.15 sq m.
Total – 415 sq ft/38.55 sq m

Shop 2 (no. 38a)
Internal frontage 2.52m.
Internal depth 4.48m.
Sales area 120 sq ft/11.15 sq m.
Storage area 35 sq ft/3.25 sq m.
W.c.
Total – 155 sq ft/14.40 sq m

Rear courtyard.

Flat 38b
Entrance lobby.
Kitchen/reception.
Bedroom.
Shower room/w.c.

Flat 38c
Entrance hall.
Inner hall.
Lounge.
Bedroom.
Kitchen.
Bathroom/w.c.

Shop 1 (no. 38) – Let to Mr Humphries for a term of 6 years from 09 September 2019, inclusive of tenant break option at the end of year 3. Year 1 rent £5,000.00, year 2 currently £6,000.00. Rent review at the end of year 3, quarter rent as deposit. Trading as a fashion retailer.

Shop 2 (no. 38a) – Let for 6 years from August 2018 with a tenant break option at the end of year 3 (August 2021), with a £1,500.00 penalty if exercised. First 3 years rent at £5,200.00 per annum, final 3 years rent at £6,000.00 per annum. Trading as a barber shop.

Flat 38b – Will be let at £495.00 per month/£5,940.00 per annum.

Flat 38c - Let at £650.00 per month/£7,800.00 per annum.

Total current rent roll circa £24,940.00 per annum.

The flats benefit from replacement double glazed windows and radiator heating. Each property has its own electric meter. Part of the premises are flying freehold.

Location: -

Pavement lined premises fronting West Street, within Dunstable town centre, opposite a Local Authority owned pay and display car park and Dunstable Police Station.

Terms: -

The premises are available at £275,000.00 showing an approximate 9.07% (11.02 years purchase) return.

Note: Our client would consider a sale of the 2 flats above at £245,000.00 upon a new 125 year ground lease, whilst he would retain the commercial parts.

Rateable Value: -

We have verbally been informed by Central Bedfordshire Council that the rateable value for no. 38 is £4,350.00, and for no. 38a £2,700.00 (please note these are not the rates payable). Flats 38b and 38c each fall within Council Tax Band A.

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 S R Wood & Son Ltd. Tel: 01582 401 221.

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STATS

Use Investment
Availability For sale
Sale price £275000
Annual rental -
Size (sq ft) 1000
Features Character property

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