Description

FOR SALE – FREEHOLD BLOCK & INCOME-PRODUCING FLATS

Tracey Court, Hibbert Street, Luton, Bedfordshire, LU1 3XH

Guide Price: £1,500,000

An excellent opportunity to acquire a substantial freehold residential investment in a well-established and high-demand rental location in Luton. The property comprises a purpose-built block arranged over ground and three upper floors, consisting of 20 self-contained flats, together with garages and off-street parking.

The sale includes the freehold interest plus 8 individual flats (3 x two-bedroom and 5 x one-bedroom units), offering an attractive level of immediate rental income alongside long-term reversionary potential.

In addition, the freehold generates ongoing ground rent and service charge income from the remaining leasehold flats, with further upside through future lease extensions and active asset management.

Flats Included in the Sale

Two-Bedroom Flats (£175,000 each)

• Flat 9 – 48 sqm
• Flat 12 – 52 sqm
• Flat 15 – 52 sqm

One-Bedroom Flats (£135,000 each)

• Flat 16 – 32 sqm
• Flat 17 – 30 sqm
• Flat 18 – 37 sqm
• Flat 19 – 31 sqm
• Flat 20 – 30 sqm

Garages & Parking

• 7 garages in total within the development
• 3 garages included within the freehold sale, providing additional rental income potential
• Remaining 4 garages are demised to individual leasehold flats and are not included in the sale
• Additional off-street parking available

Additional Features

• Freehold ownership of the entire block
• Established service charge and ground rent income
• Reversionary potential via lease extensions
• Multiple diversified income streams
• Opportunity to enhance income through active management

Location

Tracey Court is situated on Hibbert Street, within close proximity to Luton town centre, approximately 31 miles north of London. The property benefits from excellent transport links, including London Luton Airport, Luton Railway Station with direct services to London St Pancras (approx. 25–30 minutes), and nearby access to M1 Junctions 10 and 11.

The area continues to experience strong and consistent rental demand, driven by commuters, airport employment, and affordability compared to London.

Investment Highlights

• Rare opportunity to acquire a freehold block with part income-producing units
• Multiple income streams including rental income, ground rent, service charges, and garages
• Strong reversionary potential, including lease extension premiums
• Well-positioned asset in a proven commuter location
• Attractive long-term investment profile with scope for capital growth

Pricing Rationale

The guide price of £1,500,000 reflects the combined value of the 8 income-producing flats, the freehold interest delivering ongoing ground rent and service charge income, the inclusion of 3 garages with further income potential, and the reversionary upside through lease extensions and future value growth.

For further information, please contact:

Sam Bains – 07850 520642

Sabbi Bains – 07894 414046