Summary - 189, WALLER AVENUE LU4 9RS
1 bed 1 bath Residential Development
Consent granted for 342 homes and mixed commercial space close to town amenities.
2.4-acre brownfield site with c.43,238 ft² existing buildings
A substantial 2.4-acre brownfield plot with existing office and warehouse buildings extending to about 43,238 ft², offered with detailed planning consent for 342 private-sale residential units and c.17,800 ft² of commercial floorspace. Planning was granted on 23 July 2024 (ref 22/00990/FUL) and the scheme includes basement parking, communal landscaped courtyards and a mix of apartments and houses suited to a high-density urban redevelopment.
The site currently produces £145,000 pa from a tenant (Sam Magnet UK Limited) on a lease expiring 18 May 2031; rent rises to £195,000 pa in May 2027. The lease can be ended by serving three months’ notice to obtain vacant possession, but the advertised sale reflects the site’s redevelopment potential rather than income purchase.
Important transactional and planning considerations: the consent is subject to a S106 contribution of £1,760,000 (no CIL). There are only six years remaining on the letting shown, which may restrict mortgage lending options for some purchasers; buyers should verify tenure and financing before exchange. The site sits in an area with higher crime statistics and requires a developer experienced in urban regeneration and community engagement to realise the consented scheme.
Property for sale in Land for Sale, Kingston Road, Luton, LU2 — £180,000 • 1 bed • 1 bath
Land for sale in Ashcroft Road, Luton, LU2 — £1,500,000 • 1 bed • 1 bath
Residential development for sale in The Parade & Watford Market, Watford, Hertfordshire, WD17 — £13,500,000 • 1 bed • 1 bath
Light industrial facility for sale in 3 London Road, Markyate, AL3 8JL, AL3 — £3,100,000 • 1 bed • 1 bath • 24570 ft²
Land for sale in Beech Road, Rushden, Northamptonshire, NN10 — £645,000 • 1 bed • 1 bath • 9000 ft²
Light industrial facility for sale in Unit 1-3 Eastern Avenue Industrial, Dunstable, Bedfordshire, LU5 — £1,395,000 • 1 bed • 1 bath
