Income Producing Investment Premises
Summary
- Virtual Freehold
- Let & Income Producing
- Town Centre Fringe
- Double Aluminium Shop Front
- Electric Security Shutters
- Open Plan
Location
Luton is one of the largest towns in the UK without city status. The town benefits from exceptional connectivity via the A505, A6 and M1 (J10, J11 & J11A). Three train stations offer high speed services to London St Pancras. There is an international airport on the cusp of a major expansion.
Chapel Street is located within Luton town centre, within walking distance of George Street, Luton Point (shopping mall) and the University of Bedfordshire.
Get directions from Google Maps
Mainline Stations
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Luton9 mins
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Luton Airport Parkway18 mins
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Leagrave52 mins
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Harpenden98 mins
Further Information
Price £242,500
Rates Payable Upon Enquiry
Description
The retail premises forms part of the ground floor of a purpose built apartment block.
Left hand retail - 444 sqft (41.25 sqm)
Right hand retail - 298 sqft (27.71 sqm) plus kitchen and w/c.
- Shop depth circa 8m.
- 2.25m ceiling height
- Solid floor
- Electric heating
- Electric security shutters
- Double aluminium shop front
- Single phase electric
- Disabled w/c
Terms
The shop is let for a term of five years with a rent review and break option on the third anniversary. The passing rent is £14,000 per annum. We are advised the property is held on a 999 year ground lease with peppercorn ground rental. The ground lease interest is available, subject to the existing tenancy, for £242,500.
VAT
We are verbally advised by our client that VAT is not applicable.
Rateable Value
The Rateable Value as of April 2026 is £17,500 (please note this is not rates payable).
Legal Fees
Each party is to bear its own professional fees incurred.
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