Property photos
Just added
£525,000
(£150.00/sq. ft)
Land for sale
49-51 Princess Street, Luton, Dunstable, Bedfordshire LU13,500 sq. ft
Local area information
Property location
Nearby amenities
- Hillborough Infant School 0.3 miles
- Hillborough Junior School 0.3 miles
- Luton 0.5 miles
- Luton Airport Parkway 1.1 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Luton to find out more about the local area.
Features and description
Description
The freehold mid-terraced, two-storey, pavement lined buildings have been converted to residential apartments. In addition, there is a two-storey rear brick building that is STPP suitable for further residential conversion (2 x one-bedroom apartments), planning was granted but has now expired.
It is felt there is potential for rental increase by active management
There is parking at the rear for a couple of vehicles.
49a Princess Street - ground floor, 1 bedroom, let @£5,400 pa (heavily under rented). Council Tax Band A.
49b Princess Street - first floor, 1 bedroom, let @£9,000 pa. Council Tax Band A.
51a Princess Street - ground floor, large studio, let @£9,000 pa (EPC C). Council Tax Band A. Rent includes gas/water.
51b Princess Street - first floor, 2 bedroom, let @£11,100 pa (EPC D). Council Tax Band A. Rent includes gas/water.
51c Princess Street - ground floor, large studio, let @£8,400 pa. Council Tax Band A. Rent includes gas/water.
Total current rental £42,900 per annum. All tenants pay their own council tax and utilities apart from 51a/b/c where gas and water is included within their rental.
Two-storey undeveloped rear property plus parking x 2.
Location
Princess Street is a primarily residential road on the edge of Luton town centre, having good road access to M1 J10.
Terms
We believe the market value for this asset is circa £600,000, however, our client seeks a swift sale, we are instructed to obtain £525,000 Showing a yield of circa 8.17%, plus the unconverted rear property.
Legal Costs
Each party to bear their own legal and professional fees incurred.
VAT
We are advised that VAT is not applicable.
The freehold mid-terraced, two-storey, pavement lined buildings have been converted to residential apartments. In addition, there is a two-storey rear brick building that is STPP suitable for further residential conversion (2 x one-bedroom apartments), planning was granted but has now expired.
It is felt there is potential for rental increase by active management
There is parking at the rear for a couple of vehicles.
49a Princess Street - ground floor, 1 bedroom, let @£5,400 pa (heavily under rented). Council Tax Band A.
49b Princess Street - first floor, 1 bedroom, let @£9,000 pa. Council Tax Band A.
51a Princess Street - ground floor, large studio, let @£9,000 pa (EPC C). Council Tax Band A. Rent includes gas/water.
51b Princess Street - first floor, 2 bedroom, let @£11,100 pa (EPC D). Council Tax Band A. Rent includes gas/water.
51c Princess Street - ground floor, large studio, let @£8,400 pa. Council Tax Band A. Rent includes gas/water.
Total current rental £42,900 per annum. All tenants pay their own council tax and utilities apart from 51a/b/c where gas and water is included within their rental.
Two-storey undeveloped rear property plus parking x 2.
Location
Princess Street is a primarily residential road on the edge of Luton town centre, having good road access to M1 J10.
Terms
We believe the market value for this asset is circa £600,000, however, our client seeks a swift sale, we are instructed to obtain £525,000 Showing a yield of circa 8.17%, plus the unconverted rear property.
Legal Costs
Each party to bear their own legal and professional fees incurred.
VAT
We are advised that VAT is not applicable.
More information
Listed by
S.R. Wood & Son Ltd
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