Retail premises for sale

2 Queen Victoria Street, Reading, Berkshire RG1

Retail investment located in a prominent position in Reading town centre. Income from an established tenant, currently producing £25,500 per annum. Offers are invited in excess of £300,000, which represents a gross yield of 8.5%.

Location

The property fronts onto the busy pedestrian route linking Friar Street with Broad Street. Friar Street is one of Reading’s principal retail and leisure thoroughfares. It is located in the heart of Reading town centre and benefits from strong footfall and excellent visibility.

The property is well connected, located approximately 200 metres from Reading Station, providing direct services to London Paddington on the Elizabeth Line in under 25 minutes as well as connections to the wider Thames Valley and National Rail network.

Please note all times and distances given are approximate only.

Description

The property comprises a ground floor retail unit, which is let to Phone Spa Ltd (t/a The Phone Spa) on a 10 year lease from July 2017, with a current passing rent of £25,500 per annum.

All interested parties are advised to rely on their own inspection and survey.

Tenure

The property is to be sold subject to the existing tenancy, by way of a 999-year lease.

Vat

We have been informed that property is elected for VAT.

Terms

Offers are invited in excess of £300,000, which represents a gross yield of 8.5%.

Viewings

Viewings are strictly by appointment through sole agents Harston&Co.