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|Energy Performance Rating||Upon enquiry|
The property occupies a prominent corner position on the north side of South Street at its junction with Sidmouth Street, in a mixed-use location approximately 300 metres south east of Reading town centre and the Oracle shopping complex.
The property lies within easy walking distance of Reading railway station providing direct services to London Paddington and London Waterloo.
From 2022 the £18.7bn Crossrail service will be departing from Reading on the new Elizabeth line twice hourly, providing direct services through the city of London to Shenfield, with Bond Street accessible in under one hour.
Crossrail will deliver cutting edge, high-capacity trains which will help reduce overcrowding at peak times and provide a cleaner, more environmentally friendly rail service into central London.
Junction 11 of the M4 motorway and the A329 lie approximately 3 miles to the south and 1.5 miles to the east respectively.
The property is located approximately 300 metres north of the University of Reading’s London Road campus and the Royal Berkshire Hospital and roughly a mile north west of the University of Reading’s Whiteknights campus.
The immediate vicinity provides a combination of commercial and residential properties, some of which are period in nature.
We would refer you to the location plan within the particulars of sale for further information.
A copy of an Ordnance Survey Extract Plan within the particulars of sale shows the approximate boundaries of the property edged in red.
The site is level, rectangular in shape and extends to approximately 0.09 hectares (0.22 acres).
Probably dating from the 1980’s, the property currently comprises of a purpose built three-storey former residential hostel with brick elevations under a pitched roof, together with a tarmac surfaced car park on the western side of the site with space for approximately 12 cars and grassed areas with some vegetation surrounding the main building. There is a detached single garage on the site most recently used as a bike store. Both buildings are currently vacant.
We understand that the existing building has a Gross Internal Area of approximately 675.00 sq. m
(7,266 sq. ft.).
The property is bordered by Sidmouth Street at its eastern boundary, South Street at its southern boundary, Livery Close and a two-storey residential terrace at its western boundary and a car park serving a three-storey office building at its northern boundary.
Vehicular and pedestrian access to the property is from South Street.
We would refer you to the photographs of the property for further information.
The property will be sold freehold with full vacant possession given on completion.
We are advised that the property is not elected for VAT.
The existing use of the building is as a residential hostel (Sui Generis).
The property was granted planning permission (Application Ref: 151356) on 3rd December 2015 for the “Erection of part 3, part 4 storey building to provide 25 student units (42 bedspaces) (Sui Generis) and associated works, following demolition of existing 3 storey building (Sui Generis)”. The planning permission has now expired.
All reports, drawings and documents relating to the above expired planning permission are included within the Technical Information Pack which is available upon request.
Having regard to the property’s planning history and to local and national planning policy, the property holds obvious potential to be redeveloped to residential or some other alternative use.
Any planning related queries should be directed to the Local Planning Authority; Reading Borough Council.
We are advised that mains electricity, gas, water and drainage services are connected to the property. However, prospective purchasers are advised to make their own independent enquiries of the individual authorities to verify the capacity and availability of such services.
The property is available for sale by way of informal, non-binding tender with the vendor reserving the right not to accept the highest or any offer and also reserving the right to withdraw the property from sale or to vary the method of sale at any time without notice.
Offers are sought for the freehold interest either on a conditional on planning or unconditional (subject to contract only) basis. All offers must be made in writing, for a fixed sum and submitted by the offer deadline.
Full details of the Method of Sale can be found within the particulars of sale.
Written offers for the property are invited by 12 Noon Thursday 26th August 2021.
A copy of the technical information pack containing the property’s Official Copy of the Register of Title and Title Plan, existing floor plans and elevations and planning history information is available to interested parties upon request.
All enquiries should be directed to the vendor’s sole agent Haslams Surveyors LLP or email: firstname.lastname@example.org or email@example.com
Block Viewings of the property will take place on the following days (No appointment necessary during these times):
Tuesday 3rd August 2021 at 10.00am
Tuesday 10th August 2021 at 10.00am
Tuesday 17th August 2021 at 10.00am
Tuesday 24th August 2021 at 10.00am
Please note that parties must not enter the property outside the block viewing times without our prior authority and any inspection of the site is at the prospective purchaser’s risk.