Location

Progress Park was built circa 1988 and is accessed off Sedgwick Road/Toddington Road, toward the north west of Luton, having good access to the M1 Junction 11a.

Description

This modern light industrial property originally formed a terrace of similar units, however the middle/party wall dividing Unit 18-19 has been removed such that this is now a single, open plan unit.

• Ground floor 2,662.56 sqft (247.62 m²).
• Steel framed mezzanine 1,627.65 sqft (151.37 m²).
• New LED lighting.
• Circa 6-8 parking spaces upon forecourt.
• Tea making facility, shower and disabled w/c.
• 2x up and over access doors.
• Ridge height 7.39m.
• Height under mezzanine 2.48m.
• Steel framed construction.
• Pitched profile sheet roof.
• Translucent panels.

Terms

The property is held upon two ground leases, each for a term of 125 years from 1988. The passing ground rent is £2,200 per unit, per annum.

• TO LET: The unit is available to lease for a term to be agreed at a rental of £38,950 per annum exclusive.
• FOR SALE: The ground leases combined are for sale at a price of £435,000.

Rateable Value

The Rateable Value of this property as of 01 April 2023 is £52,500 (please note this is not the rates payable). As the property has been refurbished, our client will be making an appeal on this Rateable Value which should see it being substantially reduced. Further information upon request.

Legal Costs

Each party to bear their own legal costs incurred.

VAT

Plus VAT at the appropriate rate.