5719 / Rightbiz
- Approximately 1052 Square Ft
- 6 Allocated Parking Bays
- Town Centre Location
- Open Plan & Individual Offices
- EPC - D
REF 5719 – Freehold Office Space/Commercial Premises
Blacks Business Brokers are proud to bring to the market this freehold office space in a large commercial property located in the much sought-after area of Luton, Bedfordshire.
1 Park Street, 97-99 Park Terrace is a spacious, mid terraced property currently set up as office space. There is a combination of both open plan and private offices. Our client has been in ownership of this building since 2015 and it has only recently been vacated.
Luton is a large town in Bedfordshire. The area is densely populated with both commercial and residential properties. This area is mainly commercial and much sought after. The property is positioned well within Luton Town Centre, close to The Mall and the University of Bedfordshire. Well linked with the M1 and Luton Airport, public transport links are also well placed.
REASON FOR SALE
This opportunity is only being offered for sale due to our clients other business commitments.
This is predominantly a freehold proposition, however our client may consider a leasehold option, if preferred. This will be fully negotiated with a new contract agreed on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. This will likely be a 5 year lease at a cost of £40,000 per annum.
BUILDING LAYOUT AND DESIGN
This property is a two storey, brick, town house style commercial property within a row of terraced properties. The ground floor comprises of one large open plan office, two smaller office rooms, kitchenette, small store room, toilets and stairs to first floor.The first floor comprises of one large open plan office, three smaller office rooms, a communications room and kitchen.There are six parking spaces available to the rear of the building.All areas are well presented in typical office style with neutral décor and carpets throughout.
This is an ideal opportunity to acquire spacious town centre offices with allocated parking bays within walking distance of The Mall and the University of Bedford. There is an option to purchase the freehold at £850,000 or rent at £40,000 per annum with a new 5 year lease with a premium of £30,000. This is also a great opportunity for developers looking for town centre properties. Luton Borough Council granted the following planning permission (Ref: 16/00325/COM) on 4th May 2016: Change of use from office(s) (B1A) to a dwelling house (C3). Early viewings are very strongly advised.
Fixtures & Fittings:
CCTV - 4 Cameras
£769 Per Week. Weekly Rent:
£769 Per Week.
Freehold Price: £784,995
Location: Luton, Bedfordshire
Sector: Offices, Commercial Properties
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