The demand for apartments to rent in Dunstable is very high and the recent announcement by Amazon that they are going to open a distribution centre in Dunstable will add to this demand.
We have been working with the owner of this building which was formally Dunstable Kitchens and has been vacant for a number of years.
Situated in the centre of Dunstable he purchased it at auction a couple of years ago but work stopped on it about a year ago as he concentrated on other projects. Following a recent conversation I have had with him he is looking at the possibility of selling the project to an investor.
The Building has commercial premises on the Ground floor with a basement, 2 upper floors with two 1 bed apartments on each floor and planning for a fifth 1 bed apartment in the roof space. The developer tells me it is 90% complete with many of the materials required on site.
The price he is looking for is in the region of £380,000 and he thinks the cost of completing the works including externally is about £40,000. This could give you 5 apartments and a shop unit with a basement.
The expected rental value of a 1 bedroom apartment would be in the region of £600pcm before taking into consideration the ground floor retail space.
If you would like more information please email daniel.bourke@belvoirlettings.com
