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68 Wellington Street, LU1 5AA
£1,550,000
Bedrooms
Bathrooms
ATTENTION TO ALL INVESTORS! MYESTATE HAVE A BLOCK OF 7 SELF CONTAINED STUDIO FLATS + 3 COMMERCIAL SHOPS FOR SALE!!
Location:
This building is located on Dunstable Road which follows through the side road of Arundel Road. Each commercial shop have their own entrances and the flats are split between the building separate entrances are also provided. One half of the building containing 5 flats which are split between over two floors, the further 2 flats are on the end of the building which are both located on the first floor. This building is a 5-minute drive off the M1 Junction 11 and a maximum of 15 minutes to Luton Town Centre.
FLATS:
Flat A (First Floor)
This studio flat is located on the first floor of the building facing the main road. The flat compromises with fitted kitchen units and a bathroom with shower and toilet. Bedroom/living room is large for this sought of property and has a small storage room with height. Flat is carpeted with tiled flooring and walls in the bathroom.
Flat B (First floor)
Flat consist of a similar layout to flat A, with fitted kitchen units, bathroom which consists of a shower and a separate toilet. An integrated storage room which quite spacious. The approx. measurement for this flat in the kitchen area is 1.94m x 2.87m. The bedroom/ living area measures at 3.54m x 5.21m.
Flat C (Ground Floor)
Flat C which is located within the ground floor of the flat compromises with carpeted flooring, and a kitchenette unit. Bathroom of this property is a decent size and is fully tiled from top to bottom. Currently these flat measures at 2.64m x 4.48m.
Flat D (Second Floor)
Flat D compromises of a large kitchen dining area with fitted units which gives you access to a greatly sized bathroom which is a shower room with toilet and sink. The bedroom/ living area is quite large for this property. The kitchen area of the flat measures at 5.17m x 2.43 and the living room area measures at 3.53m x 5.25m.
Flat E (Second Floor)
This flat is almost replicated to the same as Flat D however, the bedroom living area is slightly larger than Flat D. Measurements are currently pending for this flat and can be seen based on pictures.
Flat F & G (FIRST FLOOR) ENTRANCE VIA
These flats are back-to-back and are situated on one half of the building separate from the above flats. Each flat has compromises with a large bedroom area, kitchen which is separate and is at the far end of each property. Bathroom for Flat F is situated as soon as you enter the flat on the left, bathroom for Flat G is located on the right side of the flat as you enter. The flats measure at 3.44m x 5.32 which is for the bedroom/ living area, 2.42m x 3.46m for the kitchen area.
All the above flats are currently rented, and tenants are responsible for their own bills.
COMMERCIALS:
The building has 3 commercial units. Far corner of the building is where there is currently a computer repair shop. The shop measures at 650 square feet. Middle shop which is known to be a dessert at a measure of 600 square feet linked to Arundel Road. Toward the far end of the building, which is linked to Arundel Road, there is also a gymnasium unit which measures approximately at 13m x 10m. There is also a basement for this building which is solely used for storage which measures at 6.91m x 10.83m. . Interior pictures of commercial shops are currently pending!
Exterior:
The building from the outside has a modern look and has great character!
Additional Information:
Luton is a vibrant, multicultural, and cosmopolitan community. Here are some of the facilities Luton has to offer: Museums, Theatre and Cinema Complex, Biggest European Carnivals also the Town Centre which has a wide variety of shops and markets which is only couple of minutes away.
For any further information please kindly contact Richie at My-Estate for further information on 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.
68 Wellington Street, LU1 5AA
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