Retail premises for sale

Well secured Reversionary Freehold investment for sale.

A prominent three storey, end of terrace building providing ground floor self-contained lock up shop and self-contained two bedroom maisonette over forming part of a well-established shopping parade in Stopsley village let to Haart Property Services, a national estate agency.

Shop area 476 sq ft (itza).

Title

The property is secured under Title BD175498

Location

Luton which has a population of two hundred and fifty thousand people when combined with Dunstable, straddles junctions 10 and 11 of the M1 motorway.

The property is contained in the sought after secondary shopping area of Stopsley village on the eastern edge of the town two miles from the town centre and one mile from London Luton Airport.

Description

A three storey end of terrace property occupying a prominent location adjoining the Stopsley village roundabout. Local tenants include Tesco, Co-op and Greggs.

Construction is by solid and cavity walls with solid floors all enclosed with Asphalt covered roof surfaces.

Accommodation & Facilities

Each property is separately serviced and has the benefit of:

• Mains gas
• Electricity
• Water
• Mains drainage

The ground floor shop has electric heaters.

The maisonette has gas fired central heating.

There is an adjoining car park.

Service Charge

A service charge is payable in connection with the upkeep of common parts of the estate.

VAT

No VAT will be payable on the purchase price.

Planning

Whilst prospective purchasers should satisfy themselves, the property has been used, for many years, as an estate agents' office on the ground floor and residential over.

Rateable Value

The Valuation Office Agency website indicates a rateable value of £13,250 for the ground floor shop. Rates are paid by the tenant.

Lease Terms

The entire property is secured under a lease by referral to an earlier lease and whilst dated 26th January 2021, grants a five year term with effect from 25th December 2020 at a passing rent of £17,500 which is considered below Market Rent having been negotiated during the onset of Coronavirus. The lease is full repairing.

There is an additional £400 per annum received under a Licence relating to the tenant’s signage on the flank wall.

Legal Costs

Each party to pay their own legal costs.

Energy Performance Certificate

An Energy Performance Certificate will be provided.

Viewing

Viewing is strictly by appointment through Peter Hill Chartered Surveyors on / .