RG6 119 Wokingham Road & 1a Pitcroft Avenue, Reading

Income producing development / conversion opportunity (STP) available for sale in Reading

The property 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 which are currently 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 split level maisonettes.

A copy of the plans are available upon request.

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 at an annual rent of £14,000 pax.

The first floor flat (1a Pitcroft Avenue) is let on a 12 month shorthold tenancy agreement, with a 6 month break option at a rent of £16,200 pa exclusive. The two single lock-up garages are vacant.

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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