Luton, LU1 1DU | Investment Property for Sale | VES-LU1-008

Opportunity to purchase an apartment in Luton generating £9,000 rent pa and a gross yield of 5.9%

£152,500

Apartment

VES-LU1-008

INITIAL INVESTMENT

£68,625

GROSS RENT / YIELD

£9,000 / 5.9%

NET RENT / YIELD

£5,709 / 3.7%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£953

1 bedroom

1 bathroom

1 reception room

375

Unfurnished

Leasehold information

  • Length of lease: 250 years
  • Year lease started: 2018

Property information

  • Newly built apartment on the first floor
  • A parking space is available for an additional £10,000. At time of listing there are currently 3 spaces left.
  • EPC rating C

Property specifications

  • Kitchen

    • High gloss kitchen with modern splashbacks
    • Integrated Bosch appliances including oven with induction hob and extractor fan, fridge freezer and washing machine
  • Bedroom

    • Stain resistant quality carpet
    • Media and USB ports
  • Bathroom

    • Chrome heated towel rails
    • Fitted mirror with LED backlighting
  • Living area

    • Satellite, TV, USB points and media points
    • Energy efficient gas central heating
    • Double glazing throughout
  • Communal areas

    • Secure gated entry system to the car park
    • Video entry system to all apartments and lobby
    • Privat residents lift
    • Secure entrance lobby with post boxes

Note

The listings particulars haven't yet been reviewed by the vendor and are therefore not final.

We are currently awaiting the AST from the landlord and will update the listing when received.

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

Financials

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Rental Income

GROSS RENT PER ANNUM

£9,000

Equivalent of £750 per calendar month (PCM).

GROSS RENTAL YIELD

5.9%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£5,709

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.7%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£3,291

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Luton

Luton is a large town in the East of England, situated about 30 miles north of London on the river Lea.

It has good links to the city and other parts of the country via rail and roads such as the M1 and A6. The M1 connects London to Leeds, where it then joins the A1(M) to connect to Newcastle. The A6 is one of the main north-south rods and runs from Luton to Carlisle.

There are three railway stations in Luton, namely Luton, Leagrave and Luton Airport Parkway, which are served by East Midlands Trains and Thameslink services. The fastest service to London St Pancras International takes about 23 minutes, with the average journey time from 47 minutes. Other services travel to Bedford, Gatwick Airport, Brighton, East Grinstead, Littlehampton, Rainham and Nottingham.

Luton is of course better known for its busy international airport. It is one of London’s six international airports that is currently home to nine different airlines. It operates regular scheduled and charter flights to a large number of destinations.

Unsurprisingly some airlines have their headquarters in Luton, like EasyJet and Monarch Airlines. Other notable firms that are headquartered in town are Impellam Group, TUI UK, Ernst & Young, Whitbread and Vauxhall Motors. Vauxhall Motors also has a manufacturing plant in Luton. The town also has a large number of local attractions to offer, such as Wardown Park Museum, Stockwood Discovery Centre or Luton Hoo, an English country house and estate. Luton is also ideally located to get to Dunstable Downs, Chiltern Hills, Someries Castle, Whipsnade Zoo, Woburn Safari Park and Woodside Farm and Wildfowls Park.

Luton is also home to the largest one-day carnival in Europe, the Luton International Carnival, which takes place on the late May Bank Holiday drawing in around 150,000 revellers. A number of other festivals take place throughout the year too. For anyone looking for further entertainment The Library Theatre and The Hat Factory offer a number of events and shows year-round, including panto, children’s theatre, live music, workshops, films and gallery exhibitions.

The University of Bedfordshire has its main campus in Luton town centre, with a smaller campus based on the edge of town. It’s main school of study are business, media, art and design, science, computing, law, psychology and social sciences. Other schools in Luton include Luton Sixth From College and Barnfield College, as well as four further educational institutes, 13 secondary schools, 56 primary schools and seven nurseries.

Napier Road,

Luton,

Luton,

England,

LU1 1DU

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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