Summary
| Property Type | Investment - Retail & Leisure / Retail / Retail - In Town |
| Tenure | For Sale |
| Size | 1,145 sq ft |
| Rates Payable | £16,233.75 per annum |
| EPC Rating | This property has been graded as C |
- Investment FOR SALE
- Price: Offers in excess of £375,000 are invited
- Representing a net initial yield of xx% after allowing for purchasers costs.
About
The property is let to Sharps Bedrooms Limited (Reg no. 07685430) on a lease that commenced on 24th September 2012 for 10 years. The lease is subject to the protection of the Landlord and Tenant Act and the tenant is therefore ‘holding over’. The rent under that lease provides for the rent to be £48,000 from 24th September 2016 however by way of a Deed of Variation dated xxxxxx the current rent passing is £38,000. The lease is drawn on FRI terms and there is no Schedule of Condition.
Sharps Bedrooms Ltd have a credit rating 92 (Very Low Risk) and they have indicated that they may be prepared to sign a short to medium term lease with flexibility.
Accommodation
| Floor/Unit | Description | sq ft | sq m |
| Ground | Retail Area | 718 | 66.70 |
| 1st | Ancillary | 427 | 39.67 |
| Total | 1,145 | 106.37 |
Location
The unit is well located in Reading town centre, immediately opposite the John Lewis’ Chain Street entrance and situated in a pedestrianised retail walkthrough providing a direct access route from Broad Street (Reading’s prime pitch) to the Oracle Shopping Centre.
Other immediate neighbouring retailers in Chain Street include Bills, JoJo Maman BeBe, Bravissimo, Castle Fine Art and GO Outdoors.
Mainline Stations
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Reading5 mins
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Reading West14 mins
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Earley50 mins
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Tilehurst52 mins
Underground Station
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Reading5 mins
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Twyford95 mins
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Maidenhead225 mins
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Taplow259 mins
Gallery
