Two Linked Retail Units on Prominently Situated on Main Thoroughfare close
Price:
Freehold - £395,000
Location:
Berkshire, Caversham Road, Reading
Business Type:
Commercial Property
DESCRIPTION
The premises comprise two neighbouring retail/ showroom units. One unit arranged over ground and first floors; the other arranged over basement, ground, first and second floors. The buildings are of traditional brick construction, one having a flat asphalt roof, the other a pitched slate roof. The properties benefit from a gross frontage of 25’. Internally the premises provide predominantly open plan space at ground floor level providing wc and kitchen facilities whilst the upper parts provide additional showroom, offices and storage.
EXISTING ACCOMMODATION
21A Caversham Road:
Basement - 366 sq ft (34.00 sq m)
GF (showroom/retail space & store area) - 830 sq ft (77.10 sq m)
FF (3 rooms inc inconnecting room to 21B) - 490 sq ft (45.52 sq m)
Second floor - 490 sq ft (45.52 sq m)
Total - 2,176 sq ft (202.14 sq m)
21B Caversham Road
Ground floor - 645 sq ft (60.00 sq m)
First Floor (showroom & toilets) - 645 sq ft (60.00 sq m)
Total - 1,290 sq ft (120.00 sq m)
Combined Total - 3,466 sq ft (322.14 sq m)
EXISTING TENANCY/INCOME
The property is offered with the benefit of an existing tenancy. The lease is contracted from the Provisions of the Landlord & Tenant. The lease is subject to a mutual rolling break clause enabling the granting of vacant possession at one month's notice.
RENT
The current annual rental is £18,000 per annum payable monthly in advance.
PLANNING
Full planning consent was granted on 6 April 2010 by Reading Borough Council (application number 1/00032/full) for the demolition of the existing building and the erection of a new building housing retail space on the ground floor with nine one-bedroom apartments on three further upper floors. The Section 106 contribution will be £13,500.
Ground Floor:
A retail area totaling 1,044 sq ft including a bin store, cycle store and lift to the apartments on the upper floors.
First Floor:
Three one-bedroom apartments each comprising living room, kitchen, bedroom and bathroom.
Second Floor:
Three one-bedroom apartment each comprising hallway, living room/kitchen, bedroom and bathroom.
Third Floor:
Three one-bedroom apartments each comprising living room/kitchen, bedroom and bathroom.
Plans are available upon request. Interested parties are advised to satisfy themselves regarding the permitted planning use.
VAT
The premises are not registered for VAT.
DECLARATION
A Director of Sharps Commercial has an interest in this property.
VIEWING
For further information and viewing arrangements please contact Justin Fincham of the sole agents
Sharps Commercial
0118 939 1600
jfincham@sharpscommercial.co.uk
The property occupies a prominent position having fronting Weldale Street and is highly visible from the Caversham Road and Chatham Street roundabout, a short distance from Reading town center yet immediately accessible to the Inner Distribution Road (IDR).
Nearby retail occupiers include Multi York, Wickes and Primark. Of special note is its close proximity to a number of modern residential developments, including the flagship Chatham Street scheme currently under construction providing a large number of flats and prime retail space.
North Yorkshire
£ 750,000
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