Home > Auctions > May 2022 10 May 2022 - 9:00am > Lot 60

May 2022: Tuesday 10 May 2022 - 9:00am
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    Key features

    • Investment let at £76,440 p.a.
    • 2 car parking spaces
    • Currently comprising of 2 commercial units on the ground floor and 4 flats located on the ground and upper floors
    • Development potential to configure the existing units and add space to the rear to retain the existing 2 commercial units and have 7 flats in the uppers parts and rear (subject to the requisite consents)
    • A positive pre application has been received in relation to the redevelopment of the property - please refer to drawings and legal pack
    • Central Reading location an approx. 0.3 miles from the centre of Reading

    Description

    A Grade II listed property comprising of 3 adjoining mid terrace buildings arranged over Basement, Ground, First and Second floor.

    Plans have been drawn up to develop the property at the rear and carry out a reconfiguration to add an additional 3 flats - The new development once complete will comprise of 2 retail units, 1 x Four Bedroom HMO, 1 x Three Bedroom HMO, 2 x Two Bed flats and 3 x One Bed flats (subject to the requisite consents)

    Additional information

    Tenure

    Freehold

    Accommodation

    33 Castle Street - Commercial

    • Ground Floor - Retail space, Kitchen, Shower Room/WC (Shared with tenant of 35)
    • Basement - Storage room and WC

    35 Castle Street - Commercial

    • Ground Floor - Retail space, Colouring Room, Kitchen & WC

    33a Castle Street

    • Ground Floor - Bathroom/WC staircase
    • First Floor - Living Room & Kitchen
    • Second Floor - 2 x Bedrooms

    35a Castle Street

    • Ground Floor - Entrance staircase
    • First Floor - Bedroom, Kitchen, Shower Room, Bathroom
    • Second Floor - 3 x Bedrooms

    35b Castle Street

    • Ground Floor - Studio Room/Kitchen, Shower Room/WC

    37 Castle Street

    • Ground Floor - Hallway
    • First Floor - Living Room, Kitchen & WC
    • Second Floor - 2 x bedrooms & Bathroom/WC

    Tenancy

    33 Castle Street - Commercial - Trading as Tattoo Studio

    • Let on a 5 year lease from the 27/07/2021
    • Investment Let at £7,200 P.A.

    35 Castle Street - Commercial - Trading as Salon Thirty Five

    • Let on a 7 year lease from the 23/07/2019
    • Investment Let at £18,000 P.A.

    33a Castle Street - Residential

    • Let on a 12 month AST from the 26/06/2021
    • Investment Let at £10,740 P.A.

    35a Castle Street - Residential

    • Room 1 - 12 month AST from 28/06/2021
    • Investment Let at £4,800 p.a.
    • Room 2 - 12 month AST from 27/05/2021
    • Investment Let at £5,400 p.a.
    • Room 3 - 12 month AST from 21/05/2021 
    • Investment Let at £5,100 p.a.
    • Room 4 - 12 month AST from 28/06/2021 
    • Investment Let at £4,800 p.a.

    35b Castle Street - Residential

    • Let on a 12 month AST from 01/06/2021 
    • Investment Let at £8,100 p.a.

    37 Castle Street - Residential

    • Let on an AST Holding over from 05/06/2018
    • Investment Let at £12,300 p.a.

    Planning

    A positive pre application has been received to retain the existing 2 retail units and reconfigure/develop the existing units into 7 flats in the upper floors (please refer to the legal documents)


    Rent

    £76,440 p.a.

    Notes

    Please note the site areas provided are approximate. The photos and red 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.

        Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

        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.

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        Local information

        The property is located on the south side of Castle Street to the east of its junction with Bridge Street.

        Shops, Restaurants, pubs and amenities can be found directly on Castle street and close by in Reading Town Centre 0.3 miles from the property.

        Reading Train Station is located 0.5 miles from the property

        Transport

        Reading Station - Services into Central London, Manchester, Bristol and the South West.

        Legal documents

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        EPC rating

        The EPC rating for this property is G

        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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