Freehold Retail Investment with Planning Consent for Residential Development
Substantial corner unit let to Done Brothers (Cash Betting) Ltd (t/a Betfred) until October 2021
Additional vacant retail unit with planning permission to change use of upper floors tob six residential flats
Nearby occupiers include Primark, Santander, Lloyds, HSBC, Boots, Marks & Spencer and Debenhams
Six Week Completion
Lot 8
Auction 9th July 2014
Rent £62,500 per Annum Exclusive
Status Sold
Price £995,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers, JLL
Property Information
Location
Miles
22.4 miles south east of Milton Keynes, 35 miles north of Central London, 43 miles east of Oxford
Roads
M1, A5, A6
Rail
Luton Railway Station, Luton Airport Parkway Railway Station
Air
London Luton Airport
Situation
The property is situated in a prime location in Luton town centre on the southern side of George Street. The property lies opposite an entrance to The Mall Shopping Centre which houses retailers such as Boots, Marks and Spencer, Debenhams, Next and H&M. Other nearby occupiers include Primark, BHS, McDonald’s, Lloyds TSB and HSBC.
Tenure
Freehold.
Location
Miles
22.4 miles south east of Milton Keynes, 35 miles north of Central London, 43 miles east of Oxford
Roads
M1, A5, A6
Rail
Luton Railway Station, Luton Airport Parkway Railway Station
Air
London Luton Airport
Situation
The property is situated in a prime location in Luton town centre on the southern side of George Street. The property lies opposite an entrance to The Mall Shopping Centre which houses retailers such as Boots, Marks and Spencer, Debenhams, Next and H&M. Other nearby occupiers include Primark, BHS, McDonald’s, Lloyds TSB and HSBC.
Tenure
Freehold.
Description
The property comprises two separate retail units. 61 George Street provides a substantial ground floor corner unit currently used as a betting shop while 61A George Street provides a ground floor retail unit with basement ancillary accommodation and office accommodation. The access allows for the upper floors to be selfcontained and the first and second floors currently benefit from planning permission for change of use to residential.
Planning
Application No:- 12/01430/COU
Planning permission has been granted for the change of use of the first and second floors of 61 George Street to six residential units. For further information please go to http://www.planning.luton.gov.uk (Ref: 12/01430/COU)
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two separate retail units. 61 George Street provides a substantial ground floor corner unit currently used as a betting shop while 61A George Street provides a ground floor retail unit with basement ancillary accommodation and office accommodation. The access allows for the upper floors to be selfcontained and the first and second floors currently benefit from planning permission for change of use to residential.
Planning
Application No:- 12/01430/COU
Planning permission has been granted for the change of use of the first and second floors of 61 George Street to six residential units. For further information please go to http://www.planning.luton.gov.uk (Ref: 12/01430/COU)
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
VACANT POSSESSION with Planning Permission for Change of Use to Six Residential Flats on upper floors
Totals
953.20 sq m
(10,259 sq ft)
£62,500
(1) For the year ending 31/03/2013, Done Brothers (Cash Betting) Limited reported a turnover of £241,918,000, pre-tax profits of £26,811,000 and a total net worth of £92,026,000.
Contacts
Seller's Solicitors
The Head Partnership Chalfont Court, 9, Lower Earley District Centre Reading West Berkshire RG6 5SY
