10 bed flat for sale

Cheapside, Luton, Bedfordshire LU1

Cheapside, Luton

Penrose are delighted to offer this outstanding investment opportunity in the heart of Luton with a substantial freehold property, ideally situated on Cheapside. This unique offering comprises ten self-contained units, featuring nine modern studio apartments and a spacious one-bedroom apartment, all currently fully let and generating a significant rental income. With an approximate annual rental income of £85,000, this property boasts an attractive yield of over 9%, making it a truly compelling proposition for discerning investors.

Offered to the market chain-free, this property provides a seamless acquisition process for the astute buyer. The current full occupancy underscores the strong demand for well-located, self-contained accommodation in Luton, ensuring immediate returns from day one. Each of the ten units has been thoughtfully designed to maximise space and comfort, providing tenants with independent living arrangements that are highly sought after in the rental market.

The strategic town centre location is a major draw, offering unparalleled convenience for residents. Luton Train Station, providing fast and frequent services to London and beyond, is within easy reach, making this an ideal choice for commuters. Furthermore, the property benefits from excellent access to other major transport links, including bus routes and arterial roads, connecting residents to the wider region with ease. The vibrant town centre itself provides a wealth of amenities, including extensive shopping facilities, diverse dining options, entertainment venues, and essential services, all just a short stroll away.

This freehold property represents a fantastic investment, not only due to its robust current rental yield but also its potential for long-term capital appreciation within a growing commuter town. The demand for quality rental accommodation in Luton remains consistently high, driven by its excellent transport connections, proximity to London Luton Airport, and ongoing regeneration projects within the town.

Prospective buyers are invited to attend our exclusive Open House event on 11th November 2025, between 2pm and 3pm, to fully appreciate the scale and quality of this investment. This is an invaluable opportunity to view the property firsthand and gain a comprehensive understanding of its income-generating potential. Early viewing is strongly advised to avoid disappointment, as properties of this calibre and yield are rarely available on the market. Do not miss the chance to add this high-performing asset to your portfolio.