1,061 sq ft
Investments, Offices, Development
|Property Type||Investments, Offices, Development|
|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)|
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.
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.
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)||
|Second Floor||Flat 1|
|Third Floor||Flat 2|
Ground Floor Office – TBC
Flat 1 – F:34
Flat 2 – E:42
Flat 3 – F:33
The property is held by way of Freehold.
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.
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 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.
We invite offers in the region of £650,000.
Please contact the sole agent for further information or an appointment to view.