Major Development Opportunity in the Heart of the Town Centre (1)
Pedestrianised location, 100 metres from John Lewis and Primark
Crossrail location (Reading to Bond Street in 54 minutes)
Strategic position between The Oracle & Broad Street Shopping Centres
Comprises 849.46 sq m (9,142 sq ft)
Development Opportunity for Alternatives Uses (subject to consents)
Immediate Asset Management Opportunities
Lot 21
Auction 31st March 2022
Rent £48,000 per Annum
Status Sold
Price £1,550,000
Sector Development
Auction Venue Live Streamed Auction
On Instructions of a Fund Manager
Property Information
Location
Miles
8 miles south-west of Henley-on-Thames, 25 miles south-east of Oxford, 40 miles west of Central London
Roads
A33, A329(M), A404(M), M4
Rail
Reading Railway Station
Air
London Heathrow
Situation
Reading is a popular regional retailing destination and major commercial and administrative centre for the Thames Valley region. The town benefits from excellent transport links by road, being easily accessed via Junctions 10, 11 and 12 of the M4 motorway, by rail with the addition of Crossrail and by air, being some 29 miles west of Heathrow Airport. The property is situated on the south side of the busy pedestrianised Broad Street between The Oracle and Broad Street Shopping Centres, in a popular retailing location. Nearby occupiers include John Lewis, Primark, Marks & Spencer, Boots the Chemist, Sports Direct, Pret a Manger, Barclays and Santander.
Tenure
Freehold.
Location
Miles
8 miles south-west of Henley-on-Thames, 25 miles south-east of Oxford, 40 miles west of Central London
Roads
A33, A329(M), A404(M), M4
Rail
Reading Railway Station
Air
London Heathrow
Situation
Reading is a popular regional retailing destination and major commercial and administrative centre for the Thames Valley region. The town benefits from excellent transport links by road, being easily accessed via Junctions 10, 11 and 12 of the M4 motorway, by rail with the addition of Crossrail and by air, being some 29 miles west of Heathrow Airport. The property is situated on the south side of the busy pedestrianised Broad Street between The Oracle and Broad Street Shopping Centres, in a popular retailing location. Nearby occupiers include John Lewis, Primark, Marks & Spencer, Boots the Chemist, Sports Direct, Pret a Manger, Barclays and Santander.
Tenure
Freehold.
Description
The property comprises three ground floor retail units with first and second floor ancillary accommodation.
No 87 has historically been used in conjunction with the adjoining unit No.88 and some of the party wall has been partially removed.
VAT
VAT is applicable to this lot.
Planning
(1) The property may benefit from future redevelopment for a variety of uses including residential, subject to necessary consents/permissions. The Vendor has considered a redevelopment comprising of 3 shops and 15 flats on the upper parts. The flats comprise 2 x Studios, 4 x One beds, 8 x Two beds & 1 x Three bed - see Legal Pack for further details.
Interested Parties are referred to Reading Borough Council - Tel 0118 937 3787 - www.planning.reading.gov.uk
Completion Period
6 week completion
EPC
Please see legal pack at www.acuitus.co.uk.
Description
The property comprises three ground floor retail units with first and second floor ancillary accommodation.
No 87 has historically been used in conjunction with the adjoining unit No.88 and some of the party wall has been partially removed.
VAT
VAT is applicable to this lot.
Planning
(1) The property may benefit from future redevelopment for a variety of uses including residential, subject to necessary consents/permissions. The Vendor has considered a redevelopment comprising of 3 shops and 15 flats on the upper parts. The flats comprise 2 x Studios, 4 x One beds, 8 x Two beds & 1 x Three bed - see Legal Pack for further details.
Interested Parties are referred to Reading Borough Council - Tel 0118 937 3787 - www.planning.reading.gov.uk
Completion Period
6 week completion
EPC
Please see legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx sq m)
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
No 87
Ground First Second Basement
Vacant
79.90 sq m 67.41 sq m 77.66 sq m 38.30 sq m
(860 sq ft) (725 sq ft) (836 sq ft) (412 sq ft)
No 87A
Ground First Second
Vacant
143.90 sq m 52.40 sq m 55.70 sq m
(1,549 sq ft) (564 sq ft) (599 sq ft)
No 86
Ground First Second Basement
Retail Ancillary Ancillary Ancillary
222.50 sq m 37.10 sq m 34.09 sq m 40.50 sq m
(2,395 sq ft) (399 sq ft) (367 sq ft) (436 sq ft)
SHOE ZONE RETAIL LIMITED
Term of years expiring 01/01/2023
£48,000
Total
849.46 sq m
(9,142 sq ft)
£48,000
(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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