Home > Auctions > 21 & 22 October 2025 21 October 2025 - 9:00am > Lot 118

21 & 22 October 2025: Tuesday 21 October 2025 - 9:00am
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    Key features

    • To be offered on Tuesday 21 October
    • A freehold mixed use investment opportunity
    • Four storey building
    • Ground floor and basement retail unit let at £17,400 p.a. for a term of 10 years from 1st Feb 2017 (Agreement for lease has been agreed for a further 10 years at £20,400 p.a.)
    • Two bedroom flat let to a private individuals on an AST for £1,395 pcm
    • Split level one bedroom flat under offer at £995 pcm
    • If both new leases are agreed the entire building would be let at £49,740 (10.58% GIY on guide price)
    • Investment currently let at £34,140 per annum - Part Vacant

    Description

    A freehold four storey mixed use building arranged as a ground floor and basement retail unit with a 2 bedroom flat and a split level one bedroom flat above.

    Total GIA approx. 2,462 (228.72 sq m).

    Investment let at £34,140 per annum - Part Vacant.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please note that some of approximate areas have been provided by the VOA/Vendor/EPC and the property has not been fully internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site.


    Retail unit - Ground Floor and Basement - Approx. 1,026 sq ft (95.32 sq m)

    Flat 1 - First Floor - Approx. 797 sq ft (74 sq m)

    Flat 2 - First Floor, Second Floor and Third Floor - Approx. 639 sq ft (59.36 sq m)

    Total - Approx. 2,462 (228.72 sq m)

    Tenancy

    Ground floor and basement retail unit let to private individual t/a a beautician/hair salon for £17,400 per annum for a term of 10 years from 1st Feb 2017. (We have been advised a new lease is being agreed for a further 10 years at £20,400 per annum - please refer to the legal pack for the draft lease)


    Two bedroom flat let to a private individual on an AST for £1,395 pcm from 23/09/2025 (£16,740 p.a.).


    One bedroom split level flat is under offer at an agreed rental income of £995pcm (£11,940 p.a.) (Please refer to the legal pack for the draft AST)

    Rent

    Investment let at £34,140 per annum (Part Vacant)

    Notes

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

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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.

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        Local information

        The property is located on the North side of Castle Street, which is accessed from A329 and St Mary's Butts. Nearby occupiers include BrewDog, Broad Street Mall, and may other independent shops, restaurants and bars are also located closeby.

        Transport

        Reading Train Station - CrossCountry, Elizabeth Line, GWR, South Western Railway.

        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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