Abbey Hall 11 - 13 Kings Road Reading Berkshire RG1 3AR

  • Abbey Hall<br>11 - 13 Kings Road<br>Reading<br>Berkshire<br>RG1 3AR

Abbey Hall
11 - 13 Kings Road
Reading
Berkshire
RG1 3AR

Freehold Retail and Residential Investment

  • Let to Whitbread Group Plc until 2026 (no breaks)
  • 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
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Retail and Residential Investment

  • Let to Whitbread Group Plc until 2026 (no breaks)
  • 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
Mark Izquierdo 01276 854 935mark.izquierdo@herrington-carmichael.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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