Retail premises for sale

150 Friar Street, Reading, Berkshire RG1

Retail investment located near a prominent corner in Reading town centre. Income from an established tenant, currently producing £45,000 per annum. Offers are invited in excess of £500,000, which represents a gross yield of 9%.

Location

The property occupies a prominent position near the junction of Friar Street and Queen Victoria Street in the heart of Reading town centre. Friar Street is one of Reading’s principal retail and leisure thoroughfares, benefiting 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 is arranged over ground and basement floors and is let to jt Sushi Ltd (t/a You Me Sushi). The unit is fitted to a high standard as a quick-service restaurant with ground floor trading and basement storage/preparation space.

The property is let on a 15-year lease from June 2022, with a current passing rent of £45,000 per annum. The next rent review is in June 2027. There is a break clause in June 2027 with a break penalty of £30,000, if exercised.

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 £500,000, which represents a gross yield of 9%.

Viewings

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