FOR SALE Retail Investment

Luton is a major commercial centre located 33 miles north of London and is situated adjacent to junctions 10 & 11 of the M1 Motorway. The town also benefits from direct rail links to St Pancras International and the presence of London Luton Airport. The property is located on the Hitchin Road in the Round Green suburb of Luton approximately 1 mile north east of the town centre

The Hitchin Road forms a major arterial route into Luton town centre from Stopsley, Hitchin and the A1(M) Motorway. The property forms part of a neighbourhood retail parade serving the local residential area.

The property comprises two retail units each with residential upper parts constructed above a shared vehicular entrance to the site to the rear of the property which has a lapsed planning consent for two 1 bedroom houses.

325 Hitchin Road comprises a ground floor retail unit with a two bedroom flat above having access from the rear. 327/329 Hitchin Road comprises a double retail unit unit with a four bedroom flat above also having access from the rear.

• Freehold retail & residential investment
• Residential development potential to the rear (subject to planning)
• Two ground floor retail units with self contained residential upper parts
• Double sized unit let to Ladbrokes on 10 year lease from 24th May 2023
• Single unit let to Shaden Fishing Tackle on 5 year lease from 16th February 2021
• Combined rent of £40,150 per annum
• 70% of the income secured upon the undoubted covenant of Ladbrokes
• Rear site with lapsed planning consent for two 1 bedroom houses

Offers in excess of £595,000 to show a purchaser a net initial yield of 6.42% after deducting purchaser’s costs of acquisition.

For an initial discussion contact Paul Jessop on 01582 346110 or email: paul@jessopco.co.uk