97A-117 Caversham Road

Reading, RG1 8AH

0.49 hectare
For Sale
Development / Residential

Back to properties

Potential development site close to Reading town centre measuring 0.486 hectare available for sale

Property Type Development / Residential
Tenure For Sale
Size 0.49 hectare
Price Price on Application
Business Rates Upon Enquiry
Energy Performance Rating Upon enquiry

Key Features

  • Allocated for residential development
  • 300 metres from Reading Railway Station
  • Closing date for offers: 12 Noon Thursday 28th October 2021

Location

The property occupies a prominent position on the west side of Caversham Road in a predominantly residential location towards the centre of the major Berkshire town of Reading.

Reading town centre with its multiple facilities lies approximately 0.25 miles to the south-east, whilst Junction 11 of the M4 Motorway lies approximately 3.5 miles to the south.

The property lies just 300 metres to the south-west of Reading Railway Station which provides direct services to London Waterloo and London Paddington.

From May 2023 the £14.8bn Crossrail service will be departing from Reading 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.
 
We would refer you to the location plan below for further information.

Description

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 and extends to approximately 0.486 hectares (1.201 acres).

Presently the property comprises:
97a Caversham Road (front) – a two storey retail unit.
99-107 Caversham Road (front) – a three storey retail unit.
115-117 Caversham Road (front) – a three storey retail and office unit.
99-113 Caversham Road (rear) – single and two storey storage and workshop units.

The property is bordered by Caversham Road at its eastern boundary, two storey dwellings at its northern and western boundaries and single/two storey retail and storage units at its southern boundary.

The property benefits from two vehicular access points, both of which are from Caversham Road.

We would refer you to the photographs of the property for further information.

Existing Accommodation

The property provides the following existing accommodation:

97a Caversham Road (front): 31.30 sq.m (337 sq.ft)
115-117 Caversham Road (front): 211.96 sq.m (2,282 sq.ft)
99-107 Caversham Road (front) and 99-113 Caversham Road (rear): 2,657.73 sq.m (28,608 sq.ft)

Externally: Tarmac and concrete surfaced car parking and yard areas.

Water Culvert

We have been advised by the vendors that a large water culvert runs under part of the property between its northern boundary and its main entrance.

Tenure

The entire property is freehold.

Full vacant possession of the property will be given on completion of the sale.

Business Rates

The property lies within the administrative authority of Reading Borough Council (the Rating Authority) and is shown in the Business Rates List as having the following Rateable Values:

97a Caversham Road (front): Rateable Value £3,400.
115-117 Caversham Road (front): Rateable Value £16,000.
99-107 Caversham Road (front) and 99-113 Caversham Road (rear): Rateable Value £75,000.

Services

We understand that mains electricity, drainage, gas and water services are either connected to the property or are available for connection in its vicinity. However, prospective purchasers are advised to make their own independent enquiries of the individual authorities to verify the capacity and availability of such services.

VAT

The property is not elected for VAT. Therefore VAT will not be payable on the purchase price.

Planning

The entire property falls within an area allocated as Sub-Area F of the Reading Borough Local Plan (Adopted November 2019) which is identified as having potential for residential development.

The Local Plan’s Central Reading Site Specific Policy for Sub-Area F is Policy CR11f which states:

CR11f: West of Caversham Road:
This area will be developed for residential with on-site open space. Densities will be lower than elsewhere in the Station/River area to reflect the proximity to low-rise residential areas, and the edge of the site nearest to the areas of terracing will require careful design treatment and respect the historic context of areas to the west. Development should take account of mitigation required as a result of a Flood Risk Assessment. Site size: 0.92 ha. Indicative Potential: 75-115 dwellings.

It should be noted that the area allocated as Sub-Area F includes additional property in third party ownership.

Any planning related queries should be directed to the Local Planning Authority: Reading Borough Council.

Method of Sale

The property’s freehold interest is offered 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.

All offers should state whether they are submitted with or without Board approval and whether they are dependent on Bank or similar finance being available with confirmation or proof of funding.

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 28th October 2021.

Technical Information Pack

A copy of the technical information pack is available to interested parties upon request.

The Information Pack includes:

- Land Registry Freehold Titles and Title Plans.
- Energy Performance Certificates.
- Reading Borough Local Plan Extract – Policy CR11f: West of Caversham Road.
- Reading Borough Local Plan Extract – Figure 5.3: Station/River Major Opportunity Strategy.

Viewing And All Other Enquiries

All enquiries should be directed to the vendor’s sole agent; Chris Newman at Haslams Surveyors LLP.

Block viewings of the property will be held at the following times:

10.00am on Wednesday 6th October 2021
10.00am on Wednesday 13th October 2021
10.00am on Wednesday 20th October 2021
10.00am on Wednesday 27th October 2021

Vehicular access to the property during viewings will be available via its main, northern-most entrance between 107 and 115 Caversham Road.

Please note that parties must not enter the property outside the viewing times without our prior authority and any inspection of the property is at the prospective purchaser’s risk.