179a Oxford Road

Reading, Berkshire, RG1 7UZ

1,061 sq ft
For Sale
Investments, Offices, Development

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Freehold investment for sale comprising a mid-terrace four storey mixed use building in a prominent Reading town centre location

Property Type Investments, Offices, Development
Tenure For Sale
Size 1,061 sq ft
Freehold Price Offers in the region of £650,000
Business Rates £325 per sq m (based on rateable value of £14,800)

Key Features

  • Rare Freehold opportunity
  • Prominent town centre location
  • Ground floor office let until April 2022 producing £11,260 per annum
  • 3x 1 bedroom residential flats producing £29,220 annum
  • Further development potential

Location

The property occupies a prominent position on the south side of Oxford Road in an established commercial and residential location on the edge of Reading town centre, offering a wide range of shopping and leisure facilities along with Reading Railway Station.

Reading Railway Station lies approximately 0.5 miles to the east of the property, providing direct train services to London Paddington and London Waterloo. Reading West Station is also a short distance away and provides services to Basingstoke, Newbury and Reading.

Description

The premises comprise of a four storey mid-terraced building. The ground floor provides a self contained office with front and rear access. The office is split into several rooms and benefits from kitchen and toilet facilities. The accommodation on the upper floors is accessed independently via Oxford Road. The first floor provides vacant office accommodation and a one bedroom flat. The second and third floors provide two further one bedroom flats.

The property benefits from Permitted Development Rights for the first floor offices to be converted into a 1 bedroom studio flat.

Accommodation

We understand the internal floor areas are as follows:-

Floor Accommodation sq m sq ft
Ground Floor (IPMS3) Office and ancillary 98.6 1,061
First Floor (IPMS3)

Office
Office
Flat 3

23.4
16.2
252
174
Second Floor Flat 1    
Third Floor Flat 2    

Energy Performance Asset Ratings

Ground Floor Office – TBC
Flat 1 – F:34
Flat 2 – E:42
Flat 3 – F:33

Tenure

The property is held by way of Freehold.

Tenancies

The ground floor commercial unit is let to the chairman of the Dyslexia Research Trust on a 5 year FRI lease from 20th April 2017 at £11,260 per annum exclusive. There is a mutual option to break at the end of the third year (19th April 2020) subject to 3 months notice. The lease has been granted outside of the Security of Tenure Provisions of the Landlord and Tenant Act 1954.

The 3 flats are let on Assured Shorthold Tenancy (AST) Agreements producing a total of £29,220 per annum.

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.

Business Rates

The Rateable Value for the property has been assessed as £11,500 on the ground floor accommodation and £3,300 on the first floor commercial accommodation.

Offers

We invite offers in the region of £650,000.

Viewing & Further Information

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