Tenanted investment available for sale in Pangbourne, Reading
Summary
- Tenanted investment
- Long-leasehold investment - 958 years unexpired
- Popular commercial estate
- No VAT payable
- Let to Refresh Pilates Ltd producing £22,500 pa
- Representing a NIY of 7.5%
Accommodation
We understand the Gross Internal Areas (GIA) are as follows;
| Name | sq ft | sq m |
| Ground - Office | 1,176 | 109.25 |
| 1st - Office | 1,157 | 107.49 |
| Total | 2,333 | 216.74 |
Location
Horseshoe Park occupies a good position close to the centre of Pangbourne which is well served by its own rail station which is on the main London to Bristol line.
Local shops are found close by within the scenic Thames side village of Pangbourne which is just west of Reading within easy access to Junction 12 of the M4 motorway.
Get directions from Google Maps
Mainline Stations
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Pangbourne10 mins
-
Tilehurst46 mins
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Theale62 mins
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Goring and Streatley69 mins
Underground Station
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Reading97 mins
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Twyford183 mins
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Maidenhead304 mins
-
Taplow339 mins
Further Information
Price £300,000
Rates Payable £3.96 per sq ft
Service Charge n/a
Estate Charge n/a
EPC Rating This property has been graded as C (64)
Description
The premises comprise an end of terrace two-storey business unit of steel portal frame construction with external elevations of part brick, part profile metal sheeting under an insulated profile metal clad roof. The premises are accessed via by a pedestrian entrance and double doors to the ground floor.
Internally the premises provide a modern yoga, fitness and Pilates studio across both storeys. The unit also benefits from male and female WCs, a kitchen / tea point and allocated parking spaces.
Terms
Offers are invited in the reign of £300,000 (Three Hundred Thousand Pounds) for the long-leasehold interest, subject to contract. A purchase at this price reflects a Net Initial Yield of 7.26% (assuming purchasers costs of 3.3%).
Legal Costs and VAT
Each party to bear their own legal costs.
The property is not elected for VAT.
Viewing & Further Information
Please contact the sole agent for further information or an appointment to view.
Lease Summary
The property is let to Refresh Pilates Limited (Reg company no. 14979515)
- Term: 5 years, commencing on 17th April 2024 and ending on 16th April 2029
- Passing Rent: £22,500 per annum exclusive
- Outside the Security of Tenure Provisions of the Landlord and Tenant Act 1954
- Full repairing and insuring terms
- Copy of the lease is available on request
Tenure
The property’s long-leasehold of 999 years from 25 March 1983 is held under Registered Title No. BK213747.
Services
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.
Anti-Money Laundering Regulations
To comply with Anti Money Laundering regulations, Haslams Surveyors LLP undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.
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