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43 & 45 Cardiff Road plus Rear Car Park

Luton

Ref: 7563

PROPERTY

43 & 45 Cardiff Road
Luton
Bedfordshire, LU1 1PP

DETAILS

43 and 45 Cardiff Road were purpose built office buildings that have now been converted to apartments. To the rear of ’43 and 45’ are a series of car parking spaces which are also available to purchase with STPP potential for low density development or continued use as rental spaces or possible used car sales. There are rights of way over the car parking area. 43 Cardiff Road T . . .

43 and 45 Cardiff Road were purpose built office buildings that have now been converted to apartments.

To the rear of ’43 and 45’ are a series of car parking spaces which are also available to purchase with STPP potential for low density development or continued use as rental spaces or possible used car sales.

There are rights of way over the car parking area.

43 Cardiff Road
There is ground rent of £750 per annum receivable for each of the 3 floors, i.e. £2,250 per annum. Each floor has been sub-divided into apartments. There is limited common area of which there is no formal management in place.

45 Cardiff Road
There are 5 apartments, each due to pay £100 per annum ground rent, i.e. £500 per annum. 2 rear lock up garages are currently rented at £450 per annum per garage, i.e. £900 per annum.

Rear Car Park
The car park is surfaced and was gated however this is no longer in situ. Allowing for access to the 2 garages, there are approximately 16 car spaces available to rent (quoting price £12,000 per annum).

Total potential rental income £15,650 per annum.

Location: -

Cardiff Road is located upon the fringe of Luton town centre, within a mixed residential/commercial area.

Terms: -

The freehold interests are available subject to the various tenancies at £150,000, showing a 10.43% return.

Rateable Value: -

To be confirmed.

Legal Costs: -

Each party to bear their own legal costs incurred.

VAT: -

We are advised V.A.T. is not currently 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, Parking space(s) / area
Availability For sale
Sale price £150000
Annual rental -
Size (sq ft) 3600
Features

DOCUMENTS

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