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Barbers Lane, Luton, Bedfordshire, LU1 2HZ

PROPERTY TYPE

End of Terrace

BEDROOMS

8

BATHROOMS

3

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

Key features

  • Chain Free
  • Eight/Nine Bedroom Investment Opportunity
  • Two Communal Rooms On Ground Floor
  • Three Bathrooms
  • Scope For Further Development STPP
  • Tenants In Situ With Income Of Approx 50k Per Annum
  • Town Centre Location
  • Within 1/4 mile From Luton Train Station
  • Courtyard Garden
  • Fully Licenced HMO

Description

Presenting an exceptional investment opportunity, this substantial eight-bedroom house on Barbers Lane, Luton. This property is a fully licenced House in Multiple Occupation (HMO) and comes with the significant advantage of being chain free, ensuring a smoother transaction for prospective buyers. Currently, the property generates an impressive income of approximately £50,000 per annum, with reliable tenants already in situ, providing immediate returns for the new owner.

Boasting eight well-proportioned bedrooms, this property is ideally configured for its current HMO use. The ground floor features two communal reception rooms, offering ample shared living space for residents. Complementing the extensive bedroom count are three well-appointed bathrooms, ensuring convenience and comfort for all occupants. The layout is practical and efficient, designed to maximise rental yield and tenant satisfaction.

Beyond its current lucrative setup, this property offers considerable scope for further development, subject to obtaining the necessary planning permissions. This presents an exciting prospect for investors looking to enhance the property's value and potentially increase its income-generating capacity in the future. Whether it involves reconfiguring existing spaces or exploring extensions, the potential for growth is clear.

The location of this property is truly outstanding, situated right in the heart of Luton town centre. This prime position places residents within easy reach of a comprehensive array of local amenities, including diverse shopping facilities, restaurants, cafes, and entertainment options. Crucially, the property is located within a quarter of a mile from Luton Train Station, offering excellent transport links for commuters. This proximity to public transport is a major draw for tenants and significantly enhances the property's appeal and rental demand.

Externally, the property benefits from a charming courtyard garden, providing a valuable outdoor space for residents to enjoy. This feature adds to the overall desirability of the HMO, offering a pleasant retreat within the bustling town centre environment. The combination of a high-yielding investment, a prime location, and future development potential makes this property a truly compelling proposition for any discerning investor. Early viewing is highly recommended to fully appreciate the scale and opportunity this unique property offers.
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.
Band: D
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.
Patio
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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Barbers Lane, Luton, Bedfordshire, LU1 2HZ

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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.

Affordability

Monthly repayments£2,753
Property: £ 549,000
Deposit: £ 54,900
Interest rate: 5.33%
Term: 30 years
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Disclaimer - Property reference PNR_PNR_LFSYCL_524_685318250. 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.

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