Residential Development Land
Summary
- Town Centre Location
- Near Luton Mainline Railway Station
- Consented Development Scheme
- 16 Apartments
Location
Luton is one of the largest towns in the UK without city status. I can be considered a major centre of commerce and is exceptionally well-connected via an international airport, the M1 (J10, J11 & J11a), the A505, the A6, and three railway stations with high speed services to London St Pancras. The town is also subject to major investment/development with the expansion of London Luton Airport, development of a new football stadium at Power Court, and a new performing arts venue 'The Stage' on the former Bute Street carpark.
The subject site occupies a corner position by the junction of Old Bedford Road and Hucklesbury Way (A6), having close proximity to Luton town centre and the mainline train station - with direct lines to London St Pancras in circa 20-30 minutes.
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Mainline Stations
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Luton3 mins
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Luton Airport Parkway23 mins
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Leagrave45 mins
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Harpenden106 mins
Underground Station
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Chesham287 mins
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Watford Junction293 mins
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Watford301 mins
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Watford High Street309 mins
Further Information
Price Offers in the region of £795,000
EPC Rating This property has been set as EPC exempt.
Reason: No building present
Description
The subjected land consists of approximately 3,068 sqft (285 sqm). Planning consent was granted in July 2022 (application ref: 19/01358/FUL) for the erection of a 7-storey building comprising 16 apartments. The development will include 11x 2-bedroom apartments and 5x 1-bedroom apartments. This planning has recently expired but it is felt it could be achieved once again.
Terms
The freehold interest of the consented development land is available for £795,000.
The site is owned in a Limited Company. The shares in this company can be purchased which will offer the buyer a financial saving on SDLT.
VAT
All costs are subject to VAT at the appropriate rate if applicable.
Legal Costs
Each party is to bear its own costs incurred.
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