11 NURSERY PARADE, MARSH ROAD, LUTON, LU3 2QP

  • INVESTMENT FOR SALE £550,000
11, Nursery parade, Luton LU3 2QP, UK
Investment/DevelopmentRetailFood/DrinkOffice

11 NURSERY PARADE, MARSH ROAD, LUTON, LU3 2QP

11, Nursery parade, Luton LU3 2QP, UK
  • INVESTMENT FOR SALE £550,000
1086 Sq Ft (100.9 m2)

Description

Description

The premises comprise:

• Mid terraced.

• Pavement lined.

• Ground floor banking hall and ancillary offices.

• First and second floor ancillary office/stores.

• Gross frontage 20’.

• Internal width 18’ 11”.

• Banking hall depth 45’ 11”.

• Built depth 88’ 11”.

The first and second floor could, subject to any necessary consents, be converted to residential, as much of the remainder of the terrace of premises have done.

Location

Nursery Parade forms the busiest part of this Marsh Road retail suburb, being close to Leagrave train station (North Luton) and the new M1, Junction 11a.

Terms

Single lease upon the whole premises for a term of 5 years from 29 January 2016 and 1954 Act protected. Rent fixed for the 5 years at £24,500.00 per annum exclusive, an increase from the former rent of £18,000 per annum exclusive. No break option. Negotiations are under way with the tenant’s surveyor to renew the lease again. The freehold is available at offers in the region of £550,000.

Legal Costs

Each party to bear their own legal costs incurred.

VAT

Plus V.A.T. at the appropriate rate if applicable.

Rateable Value

The Rateable Value of this property is £18,000 (please note that this is not rates payable). Further information is available at www.tax.service.gov.uk

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