Auction Property  

Bute Street, Luton

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Features

  • EMAIL ENQUIRIES ONLY to property@johnpye.co.uk – one of our agents will call you back shortly
  • Auction date: 25-26 March 2020
  • Freehold with vacant possession
  • Four storey residential block
  • Total of 72 cluster beds
  • Suitable for a variety of uses (STP)
  • Approx. floor area 17,000 ft2
  • Previously let to students
  • 10 minutes from Luton Airport
  • Excellent transport links

Address

Liddell Hall Bute StreetLutonBedfordshireLU1 2WN
Details
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Property Details

•EMAIL ENQUIRIES ONLY to property@johnpye.co.uk – one of our agents will call you back shortly
•Auction date: 25-26 March 2020
•Four storey residential block – total of 72 cluster beds
•£37,500 per bed based on guide price
•Approx. floor area 17,000 ft2 (£159 psf)
•Freehold with vacant possession
•Opposite Luton train station
•Previously let to University of Bedford students

The property is located within the busy well-established town centre of Luton, opposite Luton train station, which runs regular rail services to London and the Midlands. For international students, London Luton Airport is around 10 minutes travel time.

Luton is situated 35 miles north of central London, and 22 miles south of Milton Keynes, within the county of Bedfordshire. Easy access is provided via junctions 10 and 11 of the M1 motorway.

Liddle Hall is one of ten residential blocks previously occupied by students, situated adjacent to the main entrance to the development.

The accommodation is arranged over ground and three upper floors. On each floor there are 18 cluster beds, comprising of three flats. Each flat has 6 cluster beds, each with a kitchen and two bathrooms.

Floor Area

Approx. gross internal floor area 17,000 ft2
(measurement taken from EPC)

Investment Analysis

The building offers excellent potential for re-letting the units to students or other private individual on standard AST agreements. Alternatively, following some refurbishment works, the building could be split up, and apartments sold off individually to maximise total realisations for the building.

Subject to obtaining the necessary planning consents, a change of use to commercial is another option we expect interested parties will consider.

Tenure

Freehold

Guide Price

£2,700,000+

Buyer's Premium

2% (min. £3,600) inc. VAT.

Viewings

Viewings by appointment only. Please contact John Pye Property via email property@johnpye.co.uk to arrange an appointment.

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