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Opportunity to build a consented BTR scheme in the heart of Luton

Luton, United KingdomUnlock address

75%

£10.000.000

Development

#34377

Value-Add, Opportunistic

29 Sep 2024

Property Details

Broker

For sale

299,742 acres

GIA

33 £/acres

398

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

A 0.57 hectare (1.4 acre) underutilised industrial island site of low-density commercial units. Situated minutes from Luton train station, providing access to London in 25 minutes and within easy reach of London Luton International Airport. The development is in High Town, an area undergoing substantial regeneration due to the High Town Masterplan. A planning application has been granted to demolish the existing buildings and construct a new residential development over four separate blocks from five to eleven storeys comprising: – 398 private residential apartments. – On-site affordable housing provision of 8 x DMR units. – Predominantly one & two-bed apartments. – NIA approx. 21,943 m2 (236,194 ft2). – GIA approx. 27,847 m2 (299,742 ft2). – Amenity approx. 144 m2 (1,550 ft2).