Summary -
Flat 4,33-39 Manchster Street,LUTON,LU1 2QB
LU1 2QG
1 bed 1 bath Commercial Property
Fully let retail and six flats, strong income with refurbishment potential.
Freehold mixed-use building in central Luton
A substantial freehold mixed-use investment in Luton town centre, offered with a stable income stream and immediate cashflow. The building comprises a ground-floor restaurant and six self-contained flats (4 x 1-bed, 2 x 2-bed), producing a reported total rent of £95,700 pa, making it suitable for income-focused investors seeking central retail exposure with residential upper floors.
The property sits on Manchester Street opposite the Galaxy leisure complex and close to Luton Overground station, giving strong footfall and convenience for tenants. The ground-floor unit is on a 10-year repairing & insuring lease (from December 2018) at £23,000 pa; the six flats are let on separate ASTs generating £72,700 pa combined. The 5,380 sq ft building offers scope for value improvement through active asset management and selective refurbishment of flats and the restaurant.
Notable negatives are straightforward: the ground-floor restaurant is described as dated and in need of refurbishment; there is no private external amenity; the building sits in a very deprived area which can affect rental growth and tenant risk. Buyers should also note VAT is stated as applicable to the freehold price and the sale requires standard anti-money-laundering ID checks. Overall this is a core town-centre holding with immediate yield and reversion potential for an investor prepared to manage and modernise parts of the asset.
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