_Knight Frank launches Station Place, Luton, for £10m
Knight Frank launches Station Place, Luton, for £10m
Press Release
Knight Frank, in conjunction with joint agent Allied Property Investments, has recently launched Station Place, a fully consented residential development opportunity in Luton, LU2 0HR
The firm is guiding £10m for the freehold interest on an unconditional basis; the site includes planning permission for a contemporary residential led mixed-use scheme comprising 291 private units.
The proposed Station Place scheme totals 174,709 sq ft (NSA) across seven blocks, along with 5,576 sq ft (NIA) of retail use. The site is 2.34 acres (0.947 hectares), and as well as comprising almost 300 residential units, features a central public square and public piazza as part of the approved planning.
The residential element features 48 studios, 98 one-bed apartments, 138 two-bed apartments and seven three bed apartments. The site is located adjacent to Luton Station and approximately 300 metres from Luton Town Centre.
Mark Rogan, Residential Development Associate at Knight Frank, commented: “Station Place presents an exciting opportunity to develop a residential led scheme located just 23 minutes from London St Pancras via train.
“Luton Borough Council, along with major investors and developers, have secured investment of approximately £1.5 billion to transform Luton over the next 20 years. There is a further £3 billion of inward investment planned through the Luton Investment Framework.”
The proposed architecture is contemporary in style, comprising traditional brickwork and metal cladding. The scheme will incorporate an active frontage onto Midland Road and the corner of Burr Street / High Town Road, allowing the scheme to be permeable and accessible for all future occupants.
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