TypeRetail Investments · Residential Investments · Development - Residential · Mixed Portfolio Investments · Lock up storage · Light Industrial units
RG6 119 Wokingham Road & 1 Pitcroft Road, Reading
TenureFor sale
Specification
- Building size
- Building size 2,832 sqft
- Property type
- Property type Retail Investments · Residential Investments · Development - Residential · Mixed Portfolio Investments · Lock up storage · Light Industrial units
- Tenure
- Tenure For sale
Description
Income producing investment with development potential (STP) available for sale in Reading
119 Wokingham Road comprises a ground floor retail unit with a flat above which is currently let and income producing. In addition, there are two single lock up garages and a workshop which are vacant.
The property as a whole offers a future conversion and development opportunity, subject to planning. Plans have been produced for a scheme which would retain a ground floor shop at the front, with 3-flats above (2x2-bed and 1x1-bed) and 3x2-bed terrace houses. A copy of the plans are available upon request.
Features
- For sale freehold
- Mixed use
- Rarely available
- Income producing
- Development opportunity (STP)
- Of interest to investors and developers
- Indicative floor plans & existing leases available
Tenure
We understand the ground floor shop (119 Wokingham Road) is let to Sue Ryder on a 5-year Internal Repairing & Insuring lease (contracted outside the L&T Act) from 5th February 2022 with a mutual break after 3 years at an annual rent of £14,000 pax.
The first floor flat (1a Pitcroft Avenue) is let on a shorthold tenancy agreement at £12,600 pax.
Copies of the lease documents are available on request.
In addition, there are two single lock up garages and a workshop which are vacant.
Energy Performance Asset Rating 119 Wokingham Rd - Grd Flr Shop - EPC Rating: C:67
1a Pitcroft Avenue - 1st Flr Flat - EPC Rating: E:54
1 Pitcroft Avenue - Garage & Workshop - Exempt
Business Rates & Council Tax
119 Wokingham Rd - Grd Flr Shop - £16,750
1 Pitcroft Avenue - Garage & Workshop - £6,400
1a Pitcroft Avenue - 1st Flr Flat - Council Tax Band B
Legal Costs / VAT
Each party to bear their own legal costs.
VAT is NOT payable.
Viewing & Further Information
Please contact the sole agent for further information or an appointment to view.
Location
Prominent corner position close to University of Reading
The property is prominently located on the corner of Pitcroft Avenue and Wokingham Road, one of the main roads leading east from the town and approximately 2 miles from Reading town centre.
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Amenities
? For sale freehold
? Mixed use
? Rarely available
? Income producing
? Development opportunity (STP)
? Of interest to investors and developers
? Indicative floor plans & existing leases available