Warren Anthony Commercial are delighted to bring to the market this Long Leasehold shop currently under-let for a term of 15 years from 2009 to expire in 2024 with the tenant they should be paying �18,000 per annum exclusive but due to poor business they are in fact at present only paying �14,400 per annum exclusive. However, the premises are to be sold with vacant possession.
The premises are prominently located within the Bury Park area of Luton favored predominantly by the local Asian population.
The shop it is mid terraced and whilst currently let on an under-lease at �18,000 per annum exclusive it will be sold with vacant possession. It comprises an aluminium double fronted lock up shop front with suspended ceiling including mixed lighting, common area forecourt and single WC.
Use A1 (Shop).
Lease held upon a ground lease for a term of 125 years from 1990 with 97 years approx remaining at a ground rent of �50,00 per annum.
Price �269,950 subject to contract as a guide for the benefit of the long leasehold interest with vacant possession.
Size 548 sq ft approx.
Income with the property it is currently under-let for a term of 15 years from 2009 to expire in 2024 with the tenant to pay �18,000 per annum exclusive but due to poor business the tenant is in fact only paying �14,400 per annum exclusive. However, the premises will be sold with vacant possession.
Business rates we have been advised by Luton Borough Council to have a rateable value of �13,000. However, it is recommended that all interested parties make their own enquiries to the local rating authority at Luton.
Legal costs with each party to bear their own legal costs incurred.
Local authority Luton Borough Council.
Warren Anthony will charge a fee of �250 plus VAT for taking up references for any proposed tenant. This fee is non refundable after the references have been applied for whether they are accepted or not by the landlord.
A holding deposit will be required to secure the property. The deposit will buy a period of exclusivity and will be held in the Warren Anthony client account.
Any fixtures, fittings, equipment, machinery and plant which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition.
Warren Anthony for themselves for the Lessors, Vendors and their agents give notice that,
1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.
2. These details do not constitute any part of an offer or contract.
3. All statements or details contained within these particulars are without any responsibility on any part to Warren Anthony.
4. All rent, prices, fees and charges are quoted exclusive of VAT.
Viewing through Warren Anthony Commercial by prior appointment only.
We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.