Flat in Luton

24 and 24A Bury Park Road, Luton LU1 1HB
  • Lot No: 80a
  • Property Type: Flat
  • Contract Type: Unconditional with Variable Fee

Guide Price* £65,000 - £80,000 plus fees

Result Sold Prior to Auction

Property Description

An investment opportunity of a freehold building consisting of 2 apartments. The ground floor apartment is just the Ground Rent only with approximately 50 years remaining on the lease. The 1st floor one bedroom apartment is currently generating a yearly revenue of £7,200. The property offers a good current return on investment and is in excess of 10% of the guide price. The property also offers a great long term return once the lease has been extended on the ground floor apartment The property also has expired planning permission for an extension that could be recovered by the new owner in order to add value to the building Location is very central to a wide range of local amenities, shops and transport links. Trains to London are available and can reach the capital within half an hour.

Note

Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.


Draft Sales Details

These sales details are awaiting vendor approval.


Tenure

Freehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). Guide Price & Reserve Price Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 19th December 2023

Venue National Property Auction
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

24 and 24A Bury Park Road, Luton LU1 1HB