Town centre location close to the Oracle Shopping Centre
Close to the new Village Leisure Scheme
Nearby occupiers include Tesco, Costa Coffee, Carluccio’s and NatWest
Lot 32
Auction 7th December 2017
Rent £119,200 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
25 miles south of Oxford, 42 miles west of Central London
Roads
A4, A33, A329, M4 (Junction 11)
Rail
Reading Rail Station
Air
London Heathrow Airport
Situation
The property is situated in a prominent location on the north side of Kings Road, at its junction with Abbey Square and adjacent to the historic Jacksons Corner. A number of sites on Kings Road have recently been redeveloped into prominent high quality office, residential and aparthotel schemes and the newly refurbished Village Leisure Scheme is situated on the other side of Kings Road. The landmark Oracle Shopping Centre is also within close proximity and houses over 80 retailers including Apple, House of Fraser, Zara and Debenhams. Other nearby occupiers include Tesco, Costa Coffee, Carluccio’s and NatWest with Honest Burgers also due to occupy 1 King Street.
Tenure
Freehold.
Location
Miles
25 miles south of Oxford, 42 miles west of Central London
Roads
A4, A33, A329, M4 (Junction 11)
Rail
Reading Rail Station
Air
London Heathrow Airport
Situation
The property is situated in a prominent location on the north side of Kings Road, at its junction with Abbey Square and adjacent to the historic Jacksons Corner. A number of sites on Kings Road have recently been redeveloped into prominent high quality office, residential and aparthotel schemes and the newly refurbished Village Leisure Scheme is situated on the other side of Kings Road. The landmark Oracle Shopping Centre is also within close proximity and houses over 80 retailers including Apple, House of Fraser, Zara and Debenhams. Other nearby occupiers include Tesco, Costa Coffee, Carluccio’s and NatWest with Honest Burgers also due to occupy 1 King Street.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit, with part first floor ancillary accommodation and eight residential flats (let on long leases) on the remaining first and second floors.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit, with part first floor ancillary accommodation and eight residential flats (let on long leases) on the remaining first and second floors.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/ (Reversion)
Ground First
Retail Ancillary
294.97 sq m 298.96 sq m
(3,175 sq ft) (3,218 sq ft)
WHITBREAD GROUP PLC (1) (2)
25 years from 05/03/2001 on a full repairing and insuring lease
£118,000
05/03/2021 (04/03/2026)
First/Second
Residential
8 x Flats
VARIOUS
8 separate 150 year leases from 01/09/2013
£1,200 (3)
31/08/2038 and every 25 years (31/08/2163)
Totals
593.93 sq m
(6,393 sq ft)
£119,200
(1) For the year ending 3rd March 2016, Whitbread Group Plc reported a turnover of £2,921,800,000, pre-tax profits of £495,000,000 and a total net worth of £2,395,200,000 (Source: Experian Group 02/11/2017). (2) The unit has been sublet to a tenant t/a Chennai Dosa Artisanz (www.cdartisanz.com) on a lease expiring March 2026. (3) Each lease provides a rent of £150 p.a.
Contacts
Seller's Solicitors
Herrington & Carmichael Solicitors LLP Building 9, Watchmoor Park Camberley Surrey GU15 3YL
