Commercial investment property for sale in Reading

This property is marketed by:
Willmotts Chartered Surveyors

Key Features

• 3 commercial investments yielding 10.21% NIY
• Tenants - Tesco, British Heart Foundation & Tanning Shop
• Approx. 20,505 sq. ft.
• Producing £191,000pa

Location:
Reading is a large historic town situated in Berkshire on the River Thames, 70 miles east of Bristol, 25 miles south of Oxford and 40 miles west of London. The town benefits from good road communications being on the A33, at its junction with the M4 Motorway (Junction 11). Reading Rail Station provides frequent rail services to London Paddington (fastest journey time 23 minutes). The property is situated on the north side of Oxford Road, close to its junction with the pedestrianised Broad Street in the Town Centre. Occupiers close by include Metro & TSB Banks, Iceland, Poundland, Caffe Nero, Taco Bell, KFC, Sports Direct, Paul & Halifax amongst many others

Description:
The McIlroy Department Store is one of Reading’s most historic landmarks, the property was built in 1903 and in 1955 the Department Store ceased trading. It has subsequently been split into well configured retail units arranged over ground and basement floors. Parts of the parade have been sold off on long leases, whilst numbers 22-34a are retained and let out. The Property includes a vacant basement under 28-34A, which presently has no access, however could in future have an access created (subject to existing leases and all necessary consents).

User:
We believe the premises fall under Class E (with extraction) & Sui Generis use of the Town & Country Planning (Use Class) (Amendment) Order 2005.

Tenure:
Freehold subject to the existing leases.