Are you an Estate Agent? Register here
Are you an Estate Agent? Register here
£900,000
Bedrooms
Bathrooms
Exceptional Freehold Investment Opportunity in Bury Park MixedUse Property for Sale
156 Leagrave Road, Luton, Bedfordshire, LU4 8HX
Total Area: 972 SqFt (90.28 m) Plus Residential Accommodation
________________________________________
Why This Property Is a MustBuy
Rare Freehold Opportunity in the SoughtAfter Bury Park
Located in One of Lutons Most Thriving Commercial Districts
High-Yield Investment with an Annual Income of 52,200
Mixed-Use Property with Additional Revenue Potential
Prime Location with Excellent Footfall and Accessibility
________________________________________
Location Prime and Prominent
Situated on Leagrave Road near the junction with Selbourne Road, this property enjoys a high-visibility position on one of Bury Parks busiest thoroughfares. The surrounding area is a vibrant mix of bustling commercial activity and residential communities, ensuring steady demand from tenants and businesses alike.
________________________________________
Property Overview Exceptional Features
Ground Floor:
Retail Unit: A well-maintained 972 sqft (90.28 m) retail unit, currently let to a convenience store generating 30,000 per annum.
Ground Floor Flat E: A compact 238 sqft (22 m2) studio apartment (STPP) at the rear, currently vacant, offering significant income potential once let.
First Floor:
Flat C: A 1-bedroom apartment measuring 462 sqft (43 m2) let on an assured shorthold tenancy agreement (AST) at 10,200 per annum.
Flat D: A larger 1-bedroom apartment measuring 527 sqft (49 m2) let on an AST at 12,000 per annum.
Additional Features:
Front forecourt, rear courtyard, and secure lock-up storage units, enhancing the propertys usability and appeal to tenants.
________________________________________
Investment Details Strong Returns
Purchase Price: 900,000 (Freehold)
Sale is subject to existing tenancies, providing immediate rental income.
Current Rental Income:
Retail Unit: 30,000 per annum, with a lease expiring in July 2031 and a rent review due in 2027.
Residential Apartments: 22,200 per annum combined (10,200 from Flat C and 12,000 from Flat D).
Total Rental Income: 52,200 per annum, with further potential to increase through:
1.Renting the vacant Ground Floor Flat E.
2.Benefiting from the rent review in 2027, likely to result in an upward adjustment.
Commercial Lease Summary:
Lease Term: 7 years (expiring July 2031).
Break Clause: July 2028, with 6 months prior notice.
Rent Review: 3rd anniversary (upward-only open market basis).
Security of Tenure: Excluded under the Landlord & Tenant Act 1954.
________________________________________
Key Selling Points
Rare opportunity to own a freehold in Lutons bustling commercial district.
Diversified and reliable rental income from both commercial and residential tenants.
Immediate potential to grow income by letting the vacant Ground Floor Flat E.
Ideal for investors seeking a high-yield property with long-term growth prospects in a prime location.
________________________________________
Additional Information
Rateable Value: To be confirmed (visit GOV UK Tax Service for details).
Legal Costs: Each party to bear their own legal and professional fees.
VAT: Not applicable.
________________________________________
This is a Rare and Lucrative Investment Opportunity!
For more information or to arrange a viewing, contact:
Sabbi Bains: 07894 414046
Sam Bains: 07850 520642
Map location is not available for this property.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
The Property has been saved to your favorites
/ 5
It's quick and easy
