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    Key features

    • Investment let at £30,000 pa
    • Upper parts vacant (with planning granted for 2x two bed flats)
    • Ground and basement let to Kall Kwik Reading on a new 5 year lease from April 2023
    • Change of use/development opportunity on upper floors (planning granted)
    • Comprises 190.50 sq m (2,051 sq ft)

    Description

    The property comprises a ground floor shop with ancillary accommodation on the basement. The upper parts are to be sold with vacant possession on completion and have planning permission granted for 2x two bedroom flats.

    Additional information

    Tenure

    Freehold.


    Accommodation

    Please note the approximate areas have been taken from the VOA and the property has not been inspected by Savills.


    Ground - 65.00 sq m (700 sq ft)

    Basement - 35.30 sq m (380 sq ft)

    First - 55.50 sq m (597 sq ft)

    Second - 34.70 sq m (374 sq ft)


    Total - 190.50 sq m (2,051 sq ft)


    Tenancy

    The ground floor and basement is let to Devlet Five Limited trading as Kall Kwik Reading on a new 5 year lease from 18th April 2023 at a rent of £30,000 pa. There is a break option at year 3.


    The upper parts will have vacant possession on completion.


    Planning

    Planning permission granted on 30.03.2023 (Ref: 230098) for conversion of the upper parts to 2x two bedroom flats. For further enquires please contact Reading Borough Council (https://www.reading.gov.uk/planning-and-building-control/).

    Rent

    £30,000 pa (plus vacant upper parts)

    Notes

    VAT is applicable to this sale.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Reading is a popular Berkshire town approximately 40 miles west of Central London. The property is located in a prominent position on the west side of St Mary's Butts, close to Broad Street Mall, with occupiers including TK Maxx, Card Factory, Spinner Crazy Golf, KFC and JD Wetherspoon.


      Transport

      Road: A33, M4

      Rail: Reading Train Station (Cross Country, Southwestern, Elizabeth Line)

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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