Mixed Use for sale

West Street, Dunstable, Bedfordshire, LU6

£360,000

Property Description

Key features

  • Multi-Let
  • Town Centre Investment
  • Prime Location

Full description

Location:-

Pavement lined premises fronting West Street, within Dunstable town centre, opposite a Local Authority owned pay and display car park and Dunstable Police Station.

Description:-

A Grade III listed building, believed to date back to 1950 in part, comprises 2 retail units plus 2 seperate 1 bedroom flats above, all having been refurbished approx 5 years ago, under a slate roof. The flats have private rear access.

Shop 1 (no. 38)

* Internal frontage 4.30m
* Internal depth 3.20m
* Front sales area 155 sq ft/14.40 sq m.
* Rear sales area 105 sq ft/9.75 sq m.
* Staff room 35 sq ft/3.25 sq m.
* W.C
* Basement 120 sq ft/11.15 sq m.
Total - 415 sq ft/38.55 sq m.

Shop 2 (no. 38a)

* Internal frontage 2.52m
* Internal depth 4.48m
* Sales area 120 sq ft/11.15 sq m.
* Storage area 35 sq ft/3.25 sq m.
* W.C
Total - 155 sq ft/14.40 sq m.

Rear Courtyard

Flat 38b.

* Entrance lobby
* Kitchen/reception
* Bedroom
* Shower room/W.C

Flat 38c

* Entrance Hall
* Inner Hall
* Lounge
* Bedroom
* Kitchen
* Bedroom.W.C

Shop 1 - Let to Mrs C Lowther for a term of 6 years from March 2013, expiring March 2019, the current rent being 6,600 per annum exclusive.

We have been appointed to locate a new tenant for this shop upon a new lease and surrender the existing lease. The newly quoted rent is 7,750 per annum.

Shop 2 - Let to M A Wyman Ltd for a term of 6 years from August 2015, expiring August 2021, the current rent being 4,500 per annum exclusive, with a fixed increase at August 2018 to 6,500 per annum exclusive.

Flat 38b - Let at 550 per month/6,600 per annum

Flat 38c - Market rent is expected to be 675 per month/8,100 per annum

Total rent roll circa 26,950 per annum

The flats benefit from replacement double glazed windows and radiator heating. Each property has its own electric meter.

Terms:-

The Freehold is available at 360,000 showing an approx 7.25% return. Part of the premises are flying freehold.

Legal Costs:-

Each party to bear their own legal costs incurred.

VAT:-

Plus VAT at the appropriate rate if applicable.

Rateable Value:-

We have verbally been informed by Central Bedfordshire Council that the rateable value for no. 38 is 3,900 and for no. 38a 2,450 (please note these are not the rates payable). Furthermore, as a result of a government initiative to support small businesses, there are in fact zero Business rates to pay currently. Flats 38b and 38c each fall within Council Tax Band A.

Note:-

Our client would consider a sale of the 2 flats above at 245,000 upon a new 125 year ground lease, whilst he would retain the commercial parts.


Nearest stations

  • Leagrave (3.1 mi)
  • Luton (4.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Investmore, Luton

35 Alma Street, Luton, LU1 2PL

01582 934135 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Leagrave (3.1 mi)
  • Luton (4.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Investmore, Luton

35 Alma Street, Luton, LU1 2PL

01582 934135 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference srwwestduns. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Investmore, Luton. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

Map data OpenStreetMap contributors.