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    Key features

    • Development potential for a residential led scheme comprising of 5/6 stories (subject to the requisite consent)
    • Comprising of a shop on Ground floor and and 2 x flats on the upper floors
    • Self contained 2 bedroom split level maisonette recently refurbished
    • Ground floor shop and 5 bedroom flat - Investment let at 60,000 p.a.
    • 2 bedroom split level maisonette flat let on £11,700 p.a.
    • Landlord and tenant option to break in year 5
    • Ground floor Let on a new 15 year lease from October 2023
    • Tenant has fitted out to a high specification
    • Reading is now connected to the Crossrail (Queen Elizabeth line)

    Description

    The property is a part single and three storey building located on a prominent corner position offering future development potential to construct a 5/6 storey residential led scheme (subject to the requisite consents)

    A Mutual break clause in year 5 offers the incoming purchaser the chance to receive a passing income while the planning is completed on site or alternatively keep the property as an investment.

    There is also a rear yard to the property that can be accessed via Duncan Place

    Additional information

    Tenure

    Freehold

    Tenancy

    77 -79 Kings Road (Ground floor and 5 bedroom flat)

    • Let to YY supermarkets Ltd
    • Let on a 15 year lease from October 2023
    • Mutual break clause in Year 5
    • Investment let at £60,000 p.a.


    77-79 Kings Road (2 bed flat)

    • Let on a 12 month AST to private individual
    • Let on £11,700 p.a.

    Rent

    £71,700 p.a.

    Notes

    Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

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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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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      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

      The property is located on the northern side of Kings Road and located directly on the junction with Duncan Place.

      The property is located an approx. 0.5 miles from Reading Station.

      Transport

      Reading Station - National rail and Queen 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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