207 / 207a London Road Reading Berkshire RG1 3NU

207 / 207a London Road
Reading
Berkshire
RG1 3NU

Freehold Retail and Residential Investment

Prominent location in a popular student area
Affluent London commuter town
Fixed rent increase on unit 207a to £6,000 p.a. in 2021
Nearby occupiers include Co-operative Food, Sprinkles Gelato, Tesco and Lloyds Pharmacy

Lot
51
Auction
5th December 2018
Rent
£12,200 per Annum Exclusive
Status
Sold
Price
£362,500
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund Manager

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Freehold Retail and Residential Investment

Prominent location in a popular student area
Affluent London commuter town
Fixed rent increase on unit 207a to £6,000 p.a. in 2021
Nearby occupiers include Co-operative Food, Sprinkles Gelato, Tesco and Lloyds Pharmacy

Lot 51
Auction 5th December 2018
Rent £12,200 per Annum Exclusive
Status Sold
Price £362,500
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Major Fund Manager

Property Information

Location

Miles: 19 miles west of Slough, 26 miles south-east of Oxford, 40 miles west of London, 44 miles east of Swindon
Roads: A329(M), M4, A33
Rail: Reading Train Station
Air: London Heathrow

Situation

Reading is a large, historically important town in Berkshire located some 26 miles south-east of Oxford. It is a popular commuter town to London taking just 22 minutes to Paddington by train. The property is located at Cemetery Junction, 1.5 miles to the east of the town centre and is heavily populated with students living nearby. The property is on the northern side of London Road, with nearby occupiers including Co-operative Food, Sprinkles Gelato, Tesco and Lloyds Pharmacy.

Tenure

Freehold.

Location

Miles: 19 miles west of Slough, 26 miles south-east of Oxford, 40 miles west of London, 44 miles east of Swindon
Roads: A329(M), M4, A33
Rail: Reading Train Station
Air: London Heathrow

Situation

Tenure

Freehold.

Description

The property is a two storey building comprising two ground floor retail units with one self-contained flat to the rear and two self-contained flats above, which are accessible via a separate entrance from London Road.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

EPC Rating Band C. See legal pack at www.acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

EPC Rating Band C. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
207a	Ground	Retail/Ancillary	19.42 sq m	(209 sq ft)	INDIVIDUAL t/a Haircraft for Men Barber Shop (1)	6 years from 01/04/2018	£5,600	01/04/2021 (31/03/2024) (2)
207	Ground	Retail/Ancillary	49.05 sq m	(528 sq ft)	VACANT POSSESSION
Flat 1	First	Residential	1 bed flat	(-)	VACANT POSSESSION
Flat 2	First	Residential	1 bed flat	(-)	INDIVIDUAL	1 year AST from 01/02/2018	£6,600 (3)	(31/01/2019)
Flat 3	Ground	Residential	1 bed flat	(-)	VACANT POSSESSION
Total			68.47 sq m	(737 sq ft)			£12,200

(1) An individual trading as Haircraft for Men Barber Shop. The business has been trading for over 20 years.
(2) The lease provides a fixed rental increase to £6,000 p.a. on 01/04/2021.
(3) The rent has been annualised