Property Details: - Type: Land - Bedrooms: 0 - Bathrooms: 0
Agent: Indigo Residential - Barton Road Phone: 01582 936857
<p>PRIME RESIDENTIAL DEVELOPMENT OPPORTUNITY 23 PRIVATE APARTMENTS | FULL PLANNING PERMISSION | CIRCA £6.0M GDV</p><p>Indigo Residential are delighted to offer for sale this exceptional residential development opportunity situated in the heart of <strong>Luton town centre</strong>.</p><p>The site benefits from <strong>full planning permission for the construction of 23 private residential apartments</strong>, providing an attractive opportunity for both residential developers and investors seeking exposure to Luton’s continuing regeneration and strong residential demand.</p><p>The approved accommodation comprises:</p><ul><li><p><strong>9 × One-Bedroom Apartments</strong></p></li><li><p><strong>11 × Two-Bedroom Apartments</strong></p></li><li><p><strong>3 × Three-Bedroom Apartments</strong></p></li></ul><p>The scheme provides approximately <strong>15,909 sq ft of residential NIA</strong>, with a total residential GIA of approximately <strong>20,640 sq ft</strong>. The planning accommodation schedule confirms an overall NIA/GIA ratio of approximately 77%.</p><p>DEVELOPMENT & INVESTMENT HIGHLIGHTS</p><ul><li><p><strong>Full Planning Permission Granted</strong></p></li><li><p><strong>23 Private Residential Apartments</strong></p></li><li><p><strong>9 x One-Bedroom Apartments</strong></p></li><li><p><strong>11 x Two-Bedroom Apartments</strong></p></li><li><p><strong>3 x Three-Bedroom Apartments</strong></p></li><li><p><strong>Approximately 15,909 sq ft Residential NIA</strong></p></li><li><p><strong>Approximately 20,640 sq ft Residential GIA</strong></p></li><li><p><strong>Section 106 Agreed to be paid by owner</strong></p></li></ul><ul><li><p><strong>Indicative GDV of approximately £6.0 million</strong></p></li><li><p><strong>GDV based on approximately £377 per sq ft of residential NIA</strong></p></li><li><p>Excellent potential for <strong>Build-to-Sell or Build-to-Rent</strong></p></li><li><p>Strong rental demand</p></li><li><p>Highly accessible town centre location</p></li><li><p>Approximately <strong>0.3 miles from Luton Railway Station</strong></p></li><li><p>Direct rail services to <strong>London St Pancras</strong></p></li><li><p>Excellent access to the M1 motorway</p></li><li><p>Approximately <strong>2.6 miles from London Luton Airport</strong></p></li><li><p>Significant regeneration and infrastructure investment across Luton</p></li></ul><p>STRATEGIC LOCATION</p><p>The site occupies a highly accessible position within <strong>Luton town centre</strong>, benefiting from excellent transport connections and proximity to the town's retail, leisure, employment and civic amenities.</p><p><strong>Luton Railway Station is approximately 0.3 miles from the site</strong>, providing direct services to London St Pancras, with journey times of approximately 22 minutes.</p><p>The location also benefits from the <strong>Luton DART</strong> connection to London Luton Airport, together with convenient access to Junctions 10 and 11 of the M1 motorway.</p><p>The combination of strong transport connectivity, employment opportunities and significant regeneration makes the location particularly well suited to residential development.</p><p>LUTON – A GROWING AND REGENERATING LOCATION</p><p>Luton is undergoing substantial investment and regeneration, with significant public and private sector investment planned or underway across the town.</p><p>Key projects and initiatives include:</p><p>London Luton Airport</p><p>London Luton Airport is a major economic driver for the area, with planned investment and expansion expected to increase passenger capacity and employment opportunities.</p><p>The airport is a significant contributor to the local economy and provides an important source of employment and future residential demand.</p><p>Proposed New Luton Town Football Stadium</p><p>A proposed new <strong>25,000-capacity stadium</strong> forms part of the wider regeneration ambitions for the area, alongside associated residential, retail and leisure development.</p><p>Town Centre Regeneration</p><p>Luton town centre is benefiting from ongoing investment in:</p><ul><li><p>Mixed-use redevelopment</p></li><li><p>New residential accommodation</p></li><li><p>Public realm improvements</p></li><li><p>Infrastructure investment</p></li><li><p>Retail and leisure facilities</p></li><li><p>Employment-generating development</p></li></ul><p>These initiatives are expected to support increased residential demand and contribute to the continued transformation of the town centre.</p><p>DEVELOPMENT & GDV</p><p>The approved scheme comprises <strong>23 private apartments</strong> with a total residential NIA of approximately <strong>15,909 sq ft</strong>.</p><p>Based upon an indicative residential value of approximately <strong>£377 per sq ft</strong>, the scheme produces an estimated <strong>Gross Development Value (GDV) of approximately £6.0 million</strong>.</p><p><strong>Total 23 at 15,909 sq ft = £5,997,845</strong></p><p><strong>Indicative GDV: £5.998 million (circa £6.0 million).</strong></p><p>The above calculation is based upon the NIA figures contained within the planning accommodation schedule.</p><p>BUILD-TO-RENT POTENTIAL</p><p>In addition to a traditional build-for-sale strategy, the scheme may offer attractive <strong>Build-to-Rent potential</strong>, subject to detailed investor appraisal.</p><p>Indicative market rental assumptions could support gross rental income in the region of <strong>£400,00 per annum</strong>, based upon the rental assumptions provided for the scheme.</p><p>This equates to an indicative gross annual income of approximately <strong>£33,400 per month</strong> before operating costs, voids, management, maintenance and other deductions.</p><p>The rental figures are indicative only and should be independently verified by prospective purchasers.</p><p>PLANNING & TECHNICAL INFORMATION</p><p>The site benefits from full planning permission for <strong>23 private apartments</strong>.</p><p>The planning accommodation schedule confirms:</p><ul><li><p>23 residential units</p></li><li><p>9 × one-bedroom apartments</p></li><li><p>11 × two-bedroom apartments</p></li><li><p>3 × three-bedroom apartments</p></li><li><p>Approximately 15,909 sq ft residential NIA</p></li><li><p>Approximately 20,640 sq ft residential GIA</p></li><li><p>NIA/GIA ratio of approximately 77%</p></li></ul><p>The planning schedule also identifies ancillary and circulation areas associated with the development.</p><p>Further planning, technical and due diligence information is available upon request.</p><p>THE OPPORTUNITY</p><p>This represents an excellent opportunity to acquire a <strong>fully consented 23-unit residential development site in central Luton</strong>, offering a combination of planning certainty, attractive residential values, strong transport connectivity and exposure to the town's ongoing regeneration.</p><p>The scheme is suitable for a range of development strategies, including <strong>traditional build-for-sale, private investment and Build-to-Rent</strong>, subject to purchaser appraisal.</p><p>With an indicative <strong>GDV of approximately £6.0 million</strong>, based upon approximately <strong>£377 per sq ft of residential NIA</strong>, the opportunity should appeal to developers and investors seeking a well-located residential development opportunity within an established and evolving South East commuter location.</p><p><strong>Further information, planning documents and technical reports are available upon request.</strong></p><p> </p>
