Location

Gregories Close is accessed off New Bedford Road (A6), a short drive from Luton town centre.

Description

In Gregories Close are 2 apartment buildings. Planning permission has been obtained to construct on each building 2 x 1 bedroom penthouse apartments (4 in total).

To the rear of the site, planning permission was obtained (now lapsed) for the construction of 2 x 2 bedroom apartments. There is an argument that planning permission may be obtained for 2 or 3 town houses. Planning Ref. No. 19/00986/FUL.

Finally, the freehold interest is also available in the 2 apartment buildings where the 12 flats, each on 999 year ground leases, each pay £22 per annum ground rent currently, totalling £264 per annum. Our client would be happy to retain this part of the asset if required.

Terms

The above in total is available for sale in the sum of £300,000.

Legal Costs

Each party to bear their own legal costs incurred.

VAT

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