It is a shopping mall in the center of Luton.
Description
The total area of the three-storey building is 5,179 m².
There is a supermarket on the gronud floor, a restaurant with 380 seats on the first floor and kitchens, offices, staff rooms and WCs on the second floor. The basement is used for storage purposes.
Tenure: Freehold.
The property is fully leased out to two major tenants.
Absolute income is 450,000 £.
The current yield of 10,6%.
Purchaser's costs of 6%.
The anchor tenant is a one of the British supermarket chains with annual turnover of more than £ 300 thousand.
The lease agreement is signed for 10 years until 2020. All repairing and insurance costs are borne by the tenant.
The second tenant is a fast food restaurant.
The lease agreement is signed for 15 years until 2028. All repairing and insurance costs are borne by the tenant.
The property is situated in the city center.
Numerous shops, restaurants, cafes and public transportation are within the walking distance.
