Executive Summary
- Retail investment with architectural charm located in a prominent position in Reading town centre
- Occupied by Phone Spa Ltd (t/a The Phone Spa), with a current passing rent of £25,500 per annum
- Situated close to Reading station and The Oracle Shopping Centre
- Offers are invited in excess of £300,000, which represents a gross yield of 8.5%
- EPC Rating - B
Location
The property fronts onto the busy pedestrian route linking Friar Street with Broad Street. Friar Street is one of Reading’s principal retail and leisure thoroughfares. It is located in the heart of Reading town centre and benefits from strong footfall and excellent visibility.
The property is well connected, located approximately 200 metres from Reading Station, providing direct services to London Paddington on the Elizabeth Line in under 25 minutes as well as connections to the wider Thames Valley and National Rail network.
Please note all times and distances given are approximate only.
Description
The property comprises a ground floor retail unit, which is let to Phone Spa Ltd (t/a The Phone Spa) on a 10 year lease from July 2017, with a current passing rent of £25,500 per annum.
All interested parties are advised to rely on their own inspection and survey.
Tenure
The property is to be sold subject to the existing tenancy, by way of a 999-year lease.
VAT
We have been informed that property is elected for VAT.
Terms
Offers are invited in excess of £300,000, which represents a gross yield of 8.5%.
Viewings
Viewings are strictly by appointment through sole agents Harston&Co.
