41 Elm Avenue

Luton

Ref: 7535

41 Elm Avenue
Caddington
Luton
Bedfordshire, LU1 4HS

Mid terraced premises. Our client purchased the property, which benefits from a brick lock up garage/store (with power), in 2014 and refurbished the accommodation soon after. The trading business was established in 1997 and was sold by our client (to the current tenant) in December 2020. Tenancy details are as follows: Tenant – Herts Handling Training Ltd. Passing rental – £7,8 . . .

Mid terraced premises. Our client purchased the property, which benefits from a brick lock up garage/store (with power), in 2014 and refurbished the accommodation soon after.

The trading business was established in 1997 and was sold by our client (to the current tenant) in December 2020.

Tenancy details are as follows:

Tenant – Herts Handling Training Ltd.
Passing rental – £7,800 per annum (paid monthly in advance).
Break option – Mutual break option at December 2021, subject to 3 months prior notice.
Length – The lease is for 2 years from 23 December 2020, ending 22 December 2022.
Rent Review – There is a rent review provision (open market upward only) at the end of year 1 (December 2021).
1954 Act – The lease is outside the Security of Tenure Provisions of The 1954 Landlord & Tenant Act.

We understand the premises falls under User Class E, as such can be used for (amongst others) retail, office, restaurant/cafe ....

The EPC rating is C.

Location: -

Located in Elm Avenue, a primarily residential area within the village of Caddington which in turn lies between Luton and Dunstable.

Terms: -

The freehold interest in the shop/flat/garage/store/parking is being sold at a guide price of £120,000. Please note the flat, store and 1 car space have been sold on a 999 year ground lease from 25 March 1991 at a peppercorn ground rent.

Rateable Value: -

The Rateable Value of this property is £6,200 (please note that this is not rates payable). Further information is available at www.tax.service.gov.uk.

Legal Costs: -

Each party to bear their own legal costs incurred.

VAT: -

We are verbally advised that V.A.T. will not apply to the sale price.

Viewing: -

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

Read More

Use Investment, Restaurant / takeaway / bar, Retail premises
Availability For sale
Sale price £120000
Annual rental -
Size (sq ft) 556
Features

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