89-93 PARK STREET, LUTON, BEDFORDSHIRE, LU1 3HG

  • DEVELOPMENT OPPORTUNITY WITH PLANNING FOR SALE £1,100,000/FREEHOLD
89-93 Park St, Luton LU1 3HG, UK
OfficeInvestment/DevelopmentRetail

89-93 PARK STREET, LUTON, BEDFORDSHIRE, LU1 3HG

89-93 Park St, Luton LU1 3HG, UK
  • DEVELOPMENT OPPORTUNITY WITH PLANNING FOR SALE £1,100,000/FREEHOLD
8833 Sq Ft (820.6 m2)

Description

Description

The premises comprise 2 buildings, having been inter-connected, pavement lined with gated parking to the rear.

For many years the premises were used for retail (User Class E) and total 8,833.96 sq ft, which now allows for use as restaurant, café, bank, gymnasium, travel agency, retail, offices, R & D, health centre, light industrial, day nursery etc.

Our clients have secured planning consent (12.06.19) to convert and extend the premises to create a 37 room hotel under User Class C1, which includes boarding and guest houses, ref. 19/00025/FUL, and would then total 12,063 sq ft.

In our opinion other uses could, subject to planning permission, be accommodated at this property, including educational, training centre, place of worship etc (User Class F1).

Our clients have already commenced the ‘strip out’ and the building now awaits internal configuration by the buyer, hence it is a blank canvas.

Location

Located on the fringe of Luton town centre, having good access to the M1, Junction 10 and London Luton Airport.

Terms

The freehold interest is available for £1,100,000. The property is held in a Limited Company. Our clients may be able to sell the shares in the Limited Company which could save the purchaser on Stamp Duty payment.

Legal Costs

Each party to bear their own legal costs incurred.

VAT

We are verbally advised V.A.T. is not applicable.

Rateable Value

To be re-assessed.

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Jacob Wood
  • Jacob Wood