Land
£107,500
Midland Road, Luton LU2
  • Rectangular Parcel of Land
  • Planning permission of Erection of Two Retail Units
  • Planning Application No. 18/00154/ful
  • Application Granted by Borough of Luton
  • Currently Occupying Storage Unit
  • Circa. 70.1sq m

A rectangular parcel of land circa. 70.1sq m with planning permission for erection of two retail units after demolition of existing building. Planning was granted 30th April 2018 by Borough of Luton (Application No. 18/00154/ful). Currently accommodating storage unit let on licence agreement generating an income of £2,000 per annum (with notice that can be served with one months notice).

Location

Midland Road is located within the High Town area of Luton in a retail location on the outskirts of Luton Town Centre. Located circa. 33 miles from Central London. The site is within 50 metres of Luton Train Station with direct trains to London St Pancras.

Description

The site occupies a plot circa. 70.1sq m currently used for storage. We have been advised that the property has established use as advertising space with a billboard previously erected at first floor level of the unit. This is subject to formal confirmation.

Planning

Planning was granted by the Borough of Luton on 30th April 2018 for the erection of two retail units after demolition of existinng building (Planning Application Number: 18/00154/ful).

Proposed Accommoation

Unit One - 25 sq m with front shop space, rear lobby and W.C.
Unit Two - 37 sq m with front shop space, rear lobby and W.C.

Tenancy

We have been advised that the current storage unit is let on a formal licence agreement generating an income of £2,000 per annum. Either party can serve one months notice to end the agreement.

Viewings

External Inspections Only.

This property is marketed by:

Cottons Chartered Surveyors
Cavendish House, 359 - 361 Hagley Road, Edgbaston, Birmingham
0121 659 0094
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