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Get brand editions for Penrose Estate Agents, Luton

Cheapside, Luton, Bedfordshire, LU1 2HN

PROPERTY TYPE

Apartment

BEDROOMS

10

BATHROOMS

10

SIZE

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TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

Freehold

Floorplan 1
1

Key features

  • Chain Free
  • Open House 11/11/25 2pm To 3pm
  • Offers Between £925,000 And £950,000
  • Rental Income Approx £85,000 Per Annum Over 9% Yield
  • Nine Self Contained Studios And One Bedroom Apartment
  • Easy Access To Luton Train Station And Other Major Transport Links
  • Fully Let Currently
  • Town Centre Location
  • Fantastic Freehold Investment
  • Viewing Advised

Description

Penrose are delighted to offer this outstanding investment opportunity in the heart of Luton with a substantial freehold property, ideally situated on Cheapside. This unique offering comprises ten self-contained units, featuring nine modern studio apartments and a spacious one-bedroom apartment, all currently fully let and generating a significant rental income. With an approximate annual rental income of £85,000, this property boasts an attractive yield of over 9%, making it a truly compelling proposition for discerning investors.

Offered to the market chain-free, this property provides a seamless acquisition process for the astute buyer. The current full occupancy underscores the strong demand for well-located, self-contained accommodation in Luton, ensuring immediate returns from day one. Each of the ten units has been thoughtfully designed to maximise space and comfort, providing tenants with independent living arrangements that are highly sought after in the rental market.

The strategic town centre location is a major draw, offering unparalleled convenience for residents. Luton Train Station, providing fast and frequent services to London and beyond, is within easy reach, making this an ideal choice for commuters. Furthermore, the property benefits from excellent access to other major transport links, including bus routes and arterial roads, connecting residents to the wider region with ease. The vibrant town centre itself provides a wealth of amenities, including extensive shopping facilities, diverse dining options, entertainment venues, and essential services, all just a short stroll away.

This freehold property represents a fantastic investment, not only due to its robust current rental yield but also its potential for long-term capital appreciation within a growing commuter town. The demand for quality rental accommodation in Luton remains consistently high, driven by its excellent transport connections, proximity to London Luton Airport, and ongoing regeneration projects within the town.

Prospective buyers are invited to attend our exclusive Open House event on 11th November 2025, between 2pm and 3pm, to fully appreciate the scale and quality of this investment. This is an invaluable opportunity to view the property firsthand and gain a comprehensive understanding of its income-generating potential. Early viewing is strongly advised to avoid disappointment, as properties of this calibre and yield are rarely available on the market. Do not miss the chance to add this high-performing asset to your portfolio.
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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GARDENA property has access to an outdoor space, which could be private or shared.
Rear garden
ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent

Cheapside, Luton, Bedfordshire, LU1 2HN

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Get brand editions for Penrose Estate Agents, Luton

About Penrose Estate Agents, Luton

386 Hitchin Road Luton LU2 7SR

ABOUT US

Our names are Richard, Ben and Adam and we founded Penrose Estate Agents in 2016. Between us, we hold over thirty years of industry experience helping thousands of people in and around Luton complete their home moves.

We offer sellers and landlords a unique full range of marketing options, from an online only service through to traditional, fully managed moves.

We understand that our customers have very different desires and deserve a real choice on how we help them achieve the best possible price. By combining both the online and traditional services, we provide flexible solutions that will meet every customers demands.

When you instruct us to sell or rent your property you can rest assured you will be dealing with experienced and efficient property professionals, who care about both you and your home.

Your mortgage

Per year
Lenders usually expect a 10% deposit
%
Choose between 1 and 40 years
Years
%
Monthly repayments
£4,219
We think you can borrow up to
Add your household income above
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These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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Disclaimer - Property reference PNR_PNR_LFSYCL_524_685464847. 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 Penrose Estate Agents, 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.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

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