Waller Avenue, Luton, Bedfordshire, LU4
- Land size
- 2.4 acres
Key Features
- Office and warehouse buildings extending to approximately 43,238ft² situated on a site of 2.4 acres
- Planning permission for comprehensive redevelopment of the site to provide 342 residential units and circa 17,800ft² of commercial space
- All of the residential units will be for private sale and comprise a mixture of apartments and houses
- Offers invited in excess of £7,500,000 which reflects £21,929 per proposed residential unit
Description
The existing property comprises a large single-storey light industrial warehouse unit which extends to approximately 38,793ft² and a 2-storey office building of 4,445ft².
The remainder of the site consists of hard standing / yard space and parking with the overall site extending to 2.4 acres.
Access to the property is taken directly via Waller Avenue.
Planning:
Planning permission was granted on 23rd July 2024 (under reference 22/00990/FUL) for the demolition of the existing buildings on the site and comprehensive redevelopment to provide 342 residential units and approximately 17,800ft² of commercial space.
The proposed development will provide 136 x 1 bed units, 150 x 2 bed units and 56 x 3-bed units as a mix of apartments and houses with all of the residential units allocated for private sale. The development will benefit from 176 parking spaces with the majority of these spaces within the proposed basement parking and each house benefiting from one parking space each.
The planning permission is subject to a S106 agreement which provides for £1,760,000 in financial contributions with no CIL contributions applicable.
Full information on request.
Tenancy:
The entire property is let to Sam Magnet UK Limited on a 10 year lease until 18th May 2031 at a current rent of £145,000 per annum. The rental agreement is subject to a fixed rental increase in May 2027 with the rent increasing to £195,000 per annum.
Notice can be served on the tenant to vacate and surrender their agreement subject to 3 months notice at any time.
Property details
- Tenure
- Freehold
- Council Tax Band
- Ask Agent
- Date Posted
- 2026-02-03
Utilities & Restrictions
Utilities
- Electricity
- Ask Agent
- Water
- Ask Agent
- Heating
- Ask Agent
- Broadband
- Ask Agent
- Sewerage
- Ask Agent
Rights & Restrictions
- Public Rights of Way
- Ask Agent
- Private Rights of Way
- Ask Agent
- Listed Property
- Ask Agent
- Restrictions
- Ask Agent
Property Features
- Accessibility
- Ask Agent
- Parking
- Parking Available
- Garden
- Garden
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Listing agent
Kingsbury, London
32-34 Baker Street Weybridge Surrey KT13 8AU
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32-34 Baker Street Weybridge Surrey KT13 8AU
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