Shopping mall in Luton

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Shopping mall in Luton

4,250,000 £
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Total area: 5,179 m² Yield: 10.6%
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Features
  • Absolute return: 526,050 €
  • 3-floor building
  • Percentage of the rented area: 100%
  • Lettable area: 3,929 m²
  • Street retail

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.

Financial performance

Absolute income is 450,000 £.

The current yield of 10,6%.

Purchaser's costs of 6%.

Tenants

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.

Location

The property is situated in the city center.

Numerous shops, restaurants, cafes and public transportation are within the walking distance.

More properties

If this property wasn’t for you, take a look at other supermarkets for sale in the United Kingdom.

You can see more supermarkets for sale in Luton elsewhere on our website.

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Anna Kurianovich
Anna Kurianovich
Investment Consultant
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