Prominent frontage to Oxford Road (A329) some 2 miles west of Reading town centre
Strategically located close to Reading Retail Park & Stadium Industrial Estate
Other occupiers in the centre include Motor Parts Direct, Toolstation, Cybertronics and Reed Harris
Local occupiers include Waitrose, Plumb Center, HSS, Focus and Halfords
Rent is subject to Note 2
Lot 19
Auction 7th April 2011
Rent £59,875 per Annum Exclusive
Status Sold Post
Price
Sector Industrial, Warehouse
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
11 miles west of Bracknell, 26 miles south-east of Oxford, 41 miles west of Central London
Roads
A329, M4 (Junction 11/12) M25
Rail
Reading Main Line Railway Station
Air
Heathrow Airport
Situation
The property, part of the established iO Trade Centre, is prominently situated on the south side of Deacon Way accessed via the A329 Oxford Road which provides direct access to Reading town centre some 2 miles east. Local occupiers in the area include Waitrose, Plumb Center, HSS, Focus and Halfords.
Tenure
Freehold.
Location
Miles
11 miles west of Bracknell, 26 miles south-east of Oxford, 41 miles west of Central London
Roads
A329, M4 (Junction 11/12) M25
Rail
Reading Main Line Railway Station
Air
Heathrow Airport
Situation
The property, part of the established iO Trade Centre, is prominently situated on the south side of Deacon Way accessed via the A329 Oxford Road which provides direct access to Reading town centre some 2 miles east. Local occupiers in the area include Waitrose, Plumb Center, HSS, Focus and Halfords.
Tenure
Freehold.
Description
The property comprises 2 self-contained light industrial units each of which benefit from a 6.8 metre eaves height, roller shutter door and 4 designated parking spaces. The estate benefits from a secure gated entrance and excellent signage.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises 2 self-contained light industrial units each of which benefit from a 6.8 metre eaves height, roller shutter door and 4 designated parking spaces. The estate benefits from a secure gated entrance and excellent signage.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
9
Motor Trade & MOT Centre
247.86 sq m
(2,668 sq ft)
INDIVIDUAL (t/a G M H Cars)
10 years from 10/03/2010 on a full repairing and insuring lease (1)
£24,500 (2)
10/03/2015
10
Storage & Distribution
312.99 sq m (3)
(3,369 sq ft) (3)
THAMES SIDE SENSORS LIMITED (4)
10 years from 02/11/2006 on a full repairing and insuring lease
£35,375
(01/11/2016)
Totals
560.85 sq m
(6,037 sq ft)
£59,875 (2)
(1) Under the terms of the lease for Unit 9 there is a tenant option to etermine on the 10th March 2015 following 6 months’ written notice. (2) The tenant is currently paying an initial rent of £12,250 which will increase to £24,500 from 10th September 2011. The seller has agreed to top-up the rent from completion of the sale until 9th September 2011 so that the property will effectively produce £24,500 p.a.x. from completion of the sale. The total rent from completion will therefore be £59,875 p.a.x. (3) The tenant has made an application to the landlord to extend their space by adding a mezzanine area. (4) For the year ending 31st December 2009, Thames Side Sensors Limited reported a net worth of £916,000. (Source: www.riskdisk.com 09/03/2011)
Contacts
Seller's Solicitors
Boyes Turner Abbots House, Abbey Street Reading Berks RG1 3BD
