This is an exciting opportunity to purchase a well established and well known Premier Store, which occupies a prominent trading position, within a densely populated residential and commercial area of Luton situated on the entrance to one if the main shopping malls within the town centre. The area is subsequently a hive of activity throughout the day with continual footfall and activity ensuring the business attracts high levels of regular local and passing trade at all times although in our opinion trades with limited opening hours.
Attractive car dealership
• Total floor area GIA 1,546.82 sq m (16,650 sq ft) over lower ground, mezzanine and ground floors
• Let to Perrys Motor Sales Ltd (D&B 5A1) for a term of 25 years from 29th September 1999
• In excess of 10 years unexpired
• The lease is subject to 5 yearly upward only rent reviews with the next review due in September 2019
• Current rent is £308,225 per annum
The demise available is a ground floor only unit. The ground floor was previously occupied by customer facing bank branch. A strong room is located on the ground floor to the rear of the site. The unit can only be used for bank branch operation, due to a restrictive lease clause. Tenure The property is held on an existing FRI lease due to expire June 2065 at a passing rent of £7,300 per annum exclusive with no rent reviews contracted before the end of the lease. The lease is held inside the security of tenure provisions of the Landlord and Tenant Act 1954. Consideration Offers accepted on the basis of assignment from bank operators only. Rates We are verbally informed by the Local Rating Authority that the current Rateable Value of the shop is £30,750.00 and the rates payable are £14,760.00 pa. The UBR for 2018/2019 is 48.00p. Interested parties are advised to make their own enquiries with the Local Authority for verification purposes
The property comprises a two storey Period building offering a prominent retail frontage currently occupied by Space Lettings Limited. The first floor is currently vacant and planning permission has previously existed for the conversion to residential although it is understood that this has now expired.
The premises comprise a self contained ground floor shop, which provides an open plan sales area to the front with a WC and kitchen to the rear. The shop is attractively fitted out with timber laminate flooring and plaster ceiling with inset spot lighting.
A three-storey brick built building, equipped for the sale of newspapers, magazines, cigarettes, cards, sandwiches and convenience store items such as food and alcohol. There is ample customer footfall and a good visual presence on the high street.
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