Freehold Office Investment with Residential Potential (Subject to Consents)
Multi Let Producing £47,344 pa with Vacant Office Suites to Be Let
All leases subject to Uncapped annual Rent Reviews in line with the Consumer Price Index.
Approximate Net Internal Area of 422.06 sq m (4,543 sq ft)
Asset Management Opportunity
Residential Conversion Potential and Potential to Develop on the Rear Car Park (subject to consents)
Central Location in Well-Established Town
Lot 38
Auction 25th September 2024
Rent £47,344 per Annum with vacant office suites to be let.
Status Available
Guide* £900,000
Sector Office
Auction Venue Live Streamed Auction
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 & Crossrail
Air
London Heathrow Airport
Situation
Reading is a popular retailing destination and major commercial and administrative centre for the Thames Valley region. The property is located 300m from the town centre at the junction of the IDR, A4 and relief road benefitting from excellent transport links. The Town benefits from the recent London Cross Rail/ Elizabeth Line which connects Reading directly to Central London.
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 & Crossrail
Air
London Heathrow Airport
Situation
Reading is a popular retailing destination and major commercial and administrative centre for the Thames Valley region. The property is located 300m from the town centre at the junction of the IDR, A4 and relief road benefitting from excellent transport links. The Town benefits from the recent London Cross Rail/ Elizabeth Line which connects Reading directly to Central London.
Tenure
Freehold.
Description
The property is an attractive Grade II listed office building comprising office accommodation on the ground, first, second and third floors. The property also benefits from a large private car park to the rear for approximately 13 cars, which has potential for residential development (subject to consents).
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 is an attractive Grade II listed office building comprising office accommodation on the ground, first, second and third floors. The property also benefits from a large private car park to the rear for approximately 13 cars, which has potential for residential development (subject to consents).
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 Levels
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.
Rent Review (Reversion)
Lower Ground Suite B1
Office
48.68
(524)
VACANT POSSESSION
-
-
-
Lower Ground Suite B2
Office
17.74
(191)
LEARNING PLUS UK DATA LTD (CRN: 08977436) (1)
5 years from 11/08/2021 (2)
£4,908
11/08/2024 (4) (10/08/2026)
Suite 1
Office
22.58
(243)
AN INDIVIDUAL
3 years from 25/03/2022
£9,070
25303/2024 (4)(24/03/2025)
Suites 2, 3 and 4
Office
73.49
(791)
SWIETELSKY CONTRUCTION COMPANY LTD (CRN: 05279323) (3)
3 years from 11/07/2023
£33,366
11/07/2024 (4) (10/07/2026)
Suites 5-14
Office
259.57
(2,794)
VACANT POSSESSION
-
-
-
Total Approximate Net Internal Floor Area
422.06
(4,543)
£47,344
(1) Learning Plus UK is a non-profit organisation providing support to the education sector to improve performance and raise standards across the UK (www.learningplusuk.org) (2) The lease is subject to a tenants option to determine the lease on 10/08/2024 (3) The Swietelsky Group is a leading construction company in central and eastern Europe, with over 12,000 employees across 21 countries (www.swietelsky.co.uk). For the year ending 31/03/2024, Swietelsky Construction Company Ltd (CRN: 05279323) reported a turnover of £23,945,221, a pre-tax profit of £4,948,835 and a net worth of £14,134,769 (source: Northrow 14/08/2024) (4) All leases are subject to annual uncapped Rent Reviews in line with the Consumer Price Index.
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.
