42-48 John Street, Luton LU1 2EE

Property Details: - Type: Block of apartments - Bedrooms: 42 - Bathrooms: 35

Agent: Indigo Residential - Stopsley Phone: 01582 936033

<p>Indigo Residential are delighted to offer for sale this fantastic opportunity to buy a Turn key development in John Street, Central Luton.</p><p>This recently completed development comprises 28 contemporary apartments arranged across multiple floors, offering a balanced mix of one and two-bedroom units. The scheme has been carefully designed to appeal to both owner-occupiers and tenants, with a strong emphasis on efficient layouts, modern specifications, and sustainable rental demand. Situated in the heart of Central Luton, the development benefits from excellent connectivity and access to local amenities, making it particularly attractive to commuters and professional tenants.</p><p>With a mix of 12 one-bedroom and 16 two-bedroom units. The development has a total saleable area of 16,497 sq ft and an advertised gross development value (GDV) of £6.51 million, equating to approximately £394.62 per sq ft.</p><p>Based on the projected rents, the 12 one-bedroom apartments at around £1,200 per month would generate approximately £172,800 per year. Assuming the 16 two-bedroom apartments achieve an average rent of around £1,600 per month (within the quoted range of £1,500-£1,700), they would generate approximately £307,200 per year. This produces an estimated total gross annual rental income of around £480,000, which aligns with the figures provided in the marketing details.</p><p>Using the stated GDV of £6.51 million, this equates to a gross yield of approximately 7.4%.</p><p>1 Bedroom Units: £170,000 - £225,000</p><p>2 Bedroom Units: £235,000 - £325,000</p><p>Overall, the scheme offers a newly completed residential investment with immediate income potential and a diversified rental stream across one and two-bedroom apartments. Its central location, close to Luton town centre, the railway station and London Luton Airport, is expected to support demand from commuters, professionals, airport staff, NHS workers and students plus the Ongoing regeneration across Luton supporting future capital growth.</p><p>The quoted rental income and yield appear internally consistent, although purchasers should verify that the projected rents are achievable in the current market and carry out the usual legal, planning, building warranty and service charge due diligence before proceeding.</p><p>Internally the development has Contemporary open-plan living accommodation, Modern fitted kitchens , Stylish bathrooms and selected en-suite facilities, Spacious bedroom accommodation, Energy-efficient construction, Secure communal entrance, Lift access to upper floors and High-quality finishes throughout .</p><p><strong>Location</strong></p><p>Situated in the heart of Central Luton, the development benefits from excellent connectivity and access to local amenities, making it particularly attractive to commuters and professional tenants.</p><p>Key location benefits include:</p><ul><li><p>Walking distance to Luton town centre and its retail and leisure amenities</p></li><li><p>Close proximity to Luton railway station with direct services to London St Pancras</p></li><li><p>Strong commuter appeal for London and wider Bedfordshire employment hubs</p></li><li><p>Established rental demand from local professionals, airport-related workers and students</p></li><li><p>Ongoing regeneration across Luton supporting future capital growth</p></li></ul><p><strong>Development Features</strong></p><ul><li><p>Contemporary open-plan living accommodation</p></li><li><p>Modern fitted kitchens</p></li><li><p>Stylish bathrooms and selected en-suite facilities</p></li><li><p>Spacious bedroom accommodation</p></li><li><p>Energy-efficient construction</p></li><li><p>Secure communal entrance</p></li><li><p>Lift access to upper floors</p></li><li><p>High-quality finishes throughout</p></li></ul><p><strong>Investment Highlights</strong></p><ul><li><p><strong>28 completed apartments</strong></p></li><li><p><strong>Total Saleable Area:</strong> 16,497 sq ft</p></li><li><p><strong>Total GDV:</strong> £6,510,000</p></li><li><p><strong>Average Value:</strong> £394.62 per sq ft</p></li><li><p>Attractive mix of one and two-bedroom apartments</p></li><li><p>Ready for immediate occupation and income generation</p></li></ul><p><strong>Rental Potential</strong></p><p>Current rental projections indicate:</p><ul><li><p><strong>1 Bedroom Apartments:</strong> Approximately £1,200 pcm</p></li><li><p><strong>2 Bedroom Apartments:</strong> Approximately £1,500 – £1,700 pcm</p></li></ul><p>This provides investors with the opportunity to generate strong cash flow from day one while benefiting from the continued growth and regeneration of the Luton market.</p><p>Please contact Indigo Residential for an internal viewing</p>