Studio Flat For Sale £65,000
Napier Road, Luton LU1

FOR SALE BY AUCTION ON WEDNESDAY 5TH JULY 2023 COMMENCING AT 11AM - SALE VIA A LIVE STREAMED AUCTION
GUIDE PRICE: £65,000 to £75,000
VIEWINGS BY APPOINTMENT ONLY - SUNDAY 25TH JULY 10.30AM TO 11.00AM AND SATURDAY 1ST JULY 11.45AM TO 12.15PM
A fantastic opportunity to purchase a mid-floor studio apartment fully let on Assured Shorthold Tenancies. This property comes to the market situated off Farley Hill in the heart of Luton close to local amenities. The studio comprises an entrance hall, lounge/bedroom, kitchen, bathroom and parking. The property is let on Assured Shorthold Tenancies generating £575 per calendar month, a total of £6900 per annum providing a gross yield of 6.6%. Due to the current upward trend in rental values it may be possible to improve on the yield in the future.

Accommodation -

Entrance Hall - 2.82m x 0.91m (9'03 x 3'0) - Leading you into the three other rooms you are met by a sizeable entrance hall. The first door on the right leads to :-

Lounge/Bedroom - 4.90m x 4.27m (16'01 x 14'00) - Large double glazed window to front elevation, radiator, space for a double wardrobe and a king sized bed.

Kitchen - 3.51m x 1.96m (11'06 x 6'05) - Fitted with a range of base and eye level units with work top over, single sink and drainer with mixer tap, fitted electric cooker, window to the rear elevation, and plumbing for a washing machine.

Bathroom - 2.16m x 1.80m (7'01 x 5'11 ) - Suite comprising panelled bath with mixer taps, WC, wash hand basin, extractor fan and splash back tiled.

Parking - There is communal parking in the designated car park to rear.

Services - Main drainage, water and electricity are connected.

Council Tax - Luton Borough Council - Band A

Local Amenities - Located a short distance from the University of Bedfordshire, Luton mainline train stations which lead you to the Arndale Mall, Galaxy Centre and busway. 5 minute drive away from Kenilworth Road Stadium which hosts Premier League football team Luton Town.

Price Information - *Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide. Additional Fees and Disbursements will charged to the buyer - see individual property details and Special Conditions of Sale for actual figures.

Buyers Administration Charge - The purchaser will be required to pay an administration charge of £840 (£750 plus VAT).

Buyers Premium Charge - The purchaser will also be required to pay a buyer's premium of £1,200 (£1,000 plus VAT).

How To Get There - Exit the A505 at Castle Street Roundabout onto Castle Street, turn right onto Windsor Street at The Hardware Cafe. Then turn left onto Farley Hill at the FAMILY CHOICE convenience store which will be in front of you at the cross section. Turn right onto Russell Street at the Chapel Sreet Nursery School, follow Russell Street until you turn right onto Salisbury Road before the cross section. Once you are on Salisbury Road follow until you reach Napier Road. Faith House is then situated on the right hand side.

Terms Of The Lease - 99 years commencing January 1st 1990.

Ground Rent - The ground rent is £100 per annum.

Service Charge - The service charge is approximately £1,500 per annum. Additional works were carried out last year which required an additional payment of approximately £300.

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