Property photos
Freehold
£525,000
(£150.00/sq. ft)
Town house for sale
49-51 Princess Street, Luton 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
- Freehold
- Multi-Let Property
- Fully-Let & Income Producing
- Scope for Rental Uplift
- Exceptionally Well-Connected Town
- Proximity to Town Centre
Description
The freehold, mid-terraced, two-storey and pavement lined buildings have been converted to 5 apartments. In addition, there is a two-storey rear brick building that - STPP - lends itself to further residential conversion (x2 one-bedroom apartments). Planning was granted for the same but has now expired due to non-implementation. Also to the rear of the property is space for the parking of approximately 2 vehicles.
It is felt there is potential for rental increase by active management, although the passing rent is as follows:
- 49a Princess Street – ground floor | 1 bedroom | £5,400 pa.
- 49b Princess Street – first floor | 1 bedroom | £9,000 pa.
- 51a Princess Street – ground floor | large studio | £9,000 pa.
- 51b Princess Street – first floor | 2 bedroom | £11,100 pa.
- 51c Princess Street – ground floor | large studio | £8,400 pa.
The total rent roll = £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.
Location
Luton is one of the largest towns in the UK without city status. The town can be considered a major centre of commerce and is exceptionally well connected via an international airport, the M1 (J10 & J11) and 3 railway stations with fast services to London St Pancras. Princess Street is a primarily residential road on the edge of Luton town centre.
Terms
We believe the market value for this asset is circa £600,000. However, our client seeks a quick sale so we are instructed to obtain £525,000 - representative of a gross yield of 8.17% on the existing income.
VAT
We are advised by our client that the property is not elected for VAT.
Legal Costs
Each party is to bear its own costs incurred.
The freehold, mid-terraced, two-storey and pavement lined buildings have been converted to 5 apartments. In addition, there is a two-storey rear brick building that - STPP - lends itself to further residential conversion (x2 one-bedroom apartments). Planning was granted for the same but has now expired due to non-implementation. Also to the rear of the property is space for the parking of approximately 2 vehicles.
It is felt there is potential for rental increase by active management, although the passing rent is as follows:
- 49a Princess Street – ground floor | 1 bedroom | £5,400 pa.
- 49b Princess Street – first floor | 1 bedroom | £9,000 pa.
- 51a Princess Street – ground floor | large studio | £9,000 pa.
- 51b Princess Street – first floor | 2 bedroom | £11,100 pa.
- 51c Princess Street – ground floor | large studio | £8,400 pa.
The total rent roll = £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.
Location
Luton is one of the largest towns in the UK without city status. The town can be considered a major centre of commerce and is exceptionally well connected via an international airport, the M1 (J10 & J11) and 3 railway stations with fast services to London St Pancras. Princess Street is a primarily residential road on the edge of Luton town centre.
Terms
We believe the market value for this asset is circa £600,000. However, our client seeks a quick sale so we are instructed to obtain £525,000 - representative of a gross yield of 8.17% on the existing income.
VAT
We are advised by our client that the property is not elected for VAT.
Legal Costs
Each party is to bear its own costs incurred.
More information
Listed by
S.R. Wood & Son Ltd
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