Summary - FLAT 204, SPRING PLACE STUDENT HALLS, 4, DUMFRIES STREET LU1 5FT
1 bed 1 bath Flat
Let producing immediate rental income near Luton station and town centre.
Sold by online auction with buyer's fee and possible seller completion charges
Offered at auction, this studio-style leasehold flat in a modern purpose-built block is presented as an investor opportunity with an existing assured shorthold tenancy producing £660 pcm (£7,920 pa). The property sits close to Luton town centre and the station, benefitting from fast broadband, excellent mobile signal and an EPC rating of B. Council tax band A means low local charges for occupiers.
The lease runs from January 2015 with approximately 240 years remaining and a current ground rent of £350 pa (stated as rising). The building is heated via a community scheme; service charges and any additional seller fees are set out in the legal pack and bidders should allow for a buyer’s administration fee payable to the auctioneer.
This lot is offered with clear investment metrics: immediate rental income, long lease length and a low guide price. Buyers should note the flat is sold subject to tenancy, high local crime statistics and that the wider area is classified as deprived with a large student and young-family population — factors that influence tenant profiles and management needs.
Suitable for a hands-on investor or portfolio buyer seeking an entry-priced buy-to-let in a city location, the property offers straightforward holding income now with potential for future capital growth as local demand changes. Check the legal documentation for any additional completion fees, ground rent review terms and service charge levels before bidding.
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