33 Prospect Street

Caversham, Reading, Berkshire, RG4 8JB

478 sq ft Investments, For Sale

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Freehold investment mixed use property with retail on the ground floor and two bedroom flat above available for sale in Caversham

Property Type Investments
Tenure For Sale
Size 478 sq ft
Freehold Price OIEO £300,000
Business Rates (based on rateable value of £13,270)

Key Points

  • Strong commercial and residential location
  • Retail unit fully let until June 2021 producing £11,124 per annum
  • First floor flat producing £9,600 per annum
  • Vacant Possession obtainable

Location

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.

Description

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.

Accommodation

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
  TOTAL (ITZA) 34.5 371
First Floor (GIA)

Kitchen
Living Room
Bathroom
Bedroom 1
Bedroom 2

   

Energy Performance Asset Rating

EPC Rating:

Retail – C (56)

Residential – E (44)

Tenure

The property is held by way of Freehold.

Tenancies

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.

Legal Costs / VAT

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.

Offers

The property is available with offers in excess of £300,000.

Viewing & Further Information

Please contact the sole agent for further information or an appointment to view.