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
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.
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
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.
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
