Kwik Fit Training Academy, 173 Basingstoke Road Reading Berkshire RG2 0HF

Kwik Fit Training Academy, 173 Basingstoke Road
Reading
Berkshire
RG2 0HF

Freehold Industrial/Office Investment

Let to Kwik-Fit Properties Ltd with guarantee from Kwik-Fit Holdings Ltd until 2029 (no breaks)
One of Kiwk-Fit’s five training academies in the UK
Comprises 1,298.27 sq m (13,975 sq ft)
Prominently located on busy arterial route
Nearby occupiers include Morrisons, Ford, Peugeot and National Tyres

Lot
46
Auction
23rd October 2014
Rent
£140,216 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Industrial/Office Investment

Let to Kwik-Fit Properties Ltd with guarantee from Kwik-Fit Holdings Ltd until 2029 (no breaks)
One of Kiwk-Fit’s five training academies in the UK
Comprises 1,298.27 sq m (13,975 sq ft)
Prominently located on busy arterial route
Nearby occupiers include Morrisons, Ford, Peugeot and National Tyres

Lot 46
Auction 23rd October 2014
Rent £140,216 per Annum Exclusive
Status Sold Post
Price
Sector
Industrial, Warehouse
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 25 miles south of Oxford; 42 miles west of Central London
Roads: A33, A327, M4 (Junction 11)
Rail: Reading Railway Station
Air: London Heathrow Airport

Situation

Reading is a popular university town situated in the affluent Thames Valley and benefits from excellent communication links, located immediately to north of the M4 providing access to the west of England and the M25 and London to the east. The property is prominently situated at the junction of Basingstoke Road and Long Barn Lane. Basingstoke Road is a busy arterial route between Reading town centre to the north and the A33 to the south. Nearby occupiers include Morrisons, Ford, Peugeot and National Tyres.
Brunel Retail Park and Reading Gate Retail Park are located a short distance away.

Tenure

Freehold.

Location

Miles: 25 miles south of Oxford; 42 miles west of Central London
Roads: A33, A327, M4 (Junction 11)
Rail: Reading Railway Station
Air: London Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor workshop (used to demonstrate and teach) with self-contained office accommodation on the first and second/attic floors, accessed from the side.
The property benefits from five bays that are not currently used, a forecourt and a rear yard (accessed via Canterbury Road), providing a total of approximately 30 car parking spaces.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First Second/Attic	Workshop Offices Offices	548.85 sq m 508.72 sq m 240.70 sq m	(5,908 sq ft) (5,476 sq ft) (2,591 sq ft)	KWIK-FIT PROPERTIES LTD (1) guaranteed by Kwik-Fit Holdings Limited (2)	30 years from 24/02/1999 until 2029 on a full repairing and insuring lease	£140,216.15	24/02/2019 & 5 yearly
Totals		1,298.27 sq m	(13,975 sq ft)			£140,216.15

(1) For the year ending 31/03/2014, Kwik-Fit Properties Limited reported a turnover of £51,000, pre-tax profits of £146,000 and a total net worth of £2,020,000. (Source: www.riskdisk.com 16/09/2014)
(2)For the year ending 31/03/2014, Kwik-Fit Holdings Limited reported pre-tax profits of £95,410,000 and a total net worth of £28,518,000.
(Source: www.riskdisk.com 16/09/2014)