478 sq ft For Sale Investments
|Size||478 sq ft|
|Freehold Price||OIEO £300,000|
|Business Rates||(based on rateable value of £13,270)|
The property occupies a prominent position on the east side of Prospect Street in a strong retail location in the centre of the village of Caversham.
Reading town centre lies approximately 0.25 miles south of the property, offering a wide range of shopping and leisure facilities along with Reading Railway Station providing direct train services to London Paddington and London Waterloo.
The premises comprise of a three storey mid-terraced building which provides a ground floor retail unit and a self-contained first and second floor flat.
The ground floor unit is currently occupied as a hair salon and provides a largely open plan retail area, a WC and a kitchen to the rear.
The first floor residential accommodation can be independently accessed from the rear of the property and provides two bedrooms, a kitchen, a living room and a bathroom.
Subject to obtaining the necessary planning consents, potential does exist for some form of rear extension to provide one or two additional units.
We understand the internal floor areas are as follows;
|Floor||Accommodation||sq m||sq ft|
|Ground||Retail and ancillary|
|Retail Overall NIA||44.4||478|
|First Floor (GIA)||
Retail – C (56)
Residential – E (44)
The property is held by way of Freehold.
The commercial unit is let to BB’s Hair Salon for 10 years (3 Years Remaining) on an FRI lease from 14th June 2011 at £11,124 per annum exclusive.
The lease has been granted inside of the Security of Tenure Provisions of the Landlord and Tenant Act 1954.
The flat is let on a Assured Shorthold Tenancy (AST) Agreement producing £9,600 per annum.
Vacant Possession can be obtained.
Each party to pay their own legal costs.
The property is not elected for VAT and therefore VAT is not payable on the purchase price.
The property is available with offers in excess of £300,000.
Please contact the sole agent for further information or an appointment to view.