LOT 48

Guild House, 28 Guildford Street, Luton, Bedfordshire, LU1 2NR

LARGE LEASEHOLD LICENCED HMO IN TOWN CENTRE LOCATION

Result: Please refer to auctioneer Guide price: £140,000 - £150,000*

Auction Date

Thursday, 8th April 2021 12:00pm

Luton is about 30 miles north of London, close to the M1 and well known for its airport & university. A large terraced property on 4 main floors (accessed via the adjoining shared tunnel driveway) in a conservation area close to Cheapside. The town centre with its major shops is a few minutes walk away as is the mainline station.

Lease Details

99 years from 18.01.2013. Approx 91 years unexpired.
Current rent is £24,864.50 p.a. from 2019 with specified stepped 3 year increases.
Tenant's break in 17 years.

EQUIVALENT TO £50,700 P.A. WITH VACANT ROOMS & SEE LEASE DETAILS

Planning

HMO licence GRANTED 22.06.2018 for 5 years for 12 Households & 12 Occupants.

EPC Rating

Various entries on Register - No 28 is 'C'

Note

1. Auction Surveyor: Ian Mann
Contact: 020 8509 4407
2. The occupancy and rents can obviously slightly change at any time & the buyer has to take the property subject to the occupancies at completion.
All accommodation/tenancy details provided by seller. Video and photos on website provided by seller.

Status

Please refer to auctioneer

Addendum

The seller advises that he applied for a variation to the HMO licence in 2018 and that the local authority inspected in 2019 but he has not heard anything since.

Accommodation

Unit Accommodation Tenancy Rent pcm EPC Rating
Top/Loft Floor Studio room, kitchen, shower/WC Monthly agreement £700
First Floor Kitchen, bathroom/WC, shower/WC Communal areas
First Floor 5 rooms - 3 doubles and 2 singles 2 let and 3 vacant £800 in total
Ground Floor 4 rooms - 1 double & 3 singles Let on ASTs & monthly agreements £1,600
Ground Floor Reception/office with WC, utility room
Basement Double room with WC AST £550
Basement Double room, shower/WC, small outside terrace AST £575
Basement Kitchen/recreation, bathroom/WC, store Communal

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.