No longer on the market
This property is no longer on the market
MapProperty
Sold STC
Property
20505
Features and description
- 3 commercial investments yielding 10.21% NIY
- Tenants - Tesco, British Heart Foundation & Tanning Shop
- Approx. 20,505 sq. ft.
- Producing £191,000pa
Location:
Reading is a large historic town situated in Berkshire on the River Thames, 70 miles east of Bristol, 25 miles south of Oxford and 40 miles west of London. The town benefits from good road communications being on the A33, at its junction with the M4 Motorway (Junction 11). Reading Rail Station provides frequent rail services to London Paddington (fastest journey time 23 minutes). The property is situated on the north side of Oxford Road, close to its junction with the pedestrianised Broad Street in the Town Centre. Occupiers close by include Metro & TSB Banks, Iceland, Poundland, Caffe Nero, Taco Bell, KFC, Sports Direct, Paul & Halifax amongst many others
Description:
The McIlroy Department Store is one of Reading’s most historic landmarks, the property was built in 1903 and in 1955 the Department Store ceased trading. It has subsequently been split into well configured retail units arranged over ground and basement floors. Parts of the parade have been sold off on long leases, whilst numbers 22-34a are retained and let out. The Property includes a vacant basement under 28-34A, which presently has no access, however could in future have an access created (subject to existing leases and all necessary consents).
User:
We believe the premises fall under Class E (with extraction) & Sui Generis use of the Town & Country Planning (Use Class) (Amendment) Order 2005.
Tenure:
Freehold subject to the existing leases.
Accommodation & Tenancy Schedule:
The property offers the following (NIA) approximate dimensions:
AddressTenantFloor/UnitSq MSq FtLease ExpiryRent22-26 Oxford Road British Heart Foundation Ground Floor 479.19 sq m5,158 sq ft10.08.2027£100,000 p.a.Basement 528.33 sq m5,687 sq ftSubtotal1,007.52 sq m10,845 sq ft28-34 Oxford Road Tesco Stores Ltd Ground Floor 343.27 sq m3,695 sq ft24.05.2035£69,000 p.a.
Reading is a large historic town situated in Berkshire on the River Thames, 70 miles east of Bristol, 25 miles south of Oxford and 40 miles west of London. The town benefits from good road communications being on the A33, at its junction with the M4 Motorway (Junction 11). Reading Rail Station provides frequent rail services to London Paddington (fastest journey time 23 minutes). The property is situated on the north side of Oxford Road, close to its junction with the pedestrianised Broad Street in the Town Centre. Occupiers close by include Metro & TSB Banks, Iceland, Poundland, Caffe Nero, Taco Bell, KFC, Sports Direct, Paul & Halifax amongst many others
Description:
The McIlroy Department Store is one of Reading’s most historic landmarks, the property was built in 1903 and in 1955 the Department Store ceased trading. It has subsequently been split into well configured retail units arranged over ground and basement floors. Parts of the parade have been sold off on long leases, whilst numbers 22-34a are retained and let out. The Property includes a vacant basement under 28-34A, which presently has no access, however could in future have an access created (subject to existing leases and all necessary consents).
User:
We believe the premises fall under Class E (with extraction) & Sui Generis use of the Town & Country Planning (Use Class) (Amendment) Order 2005.
Tenure:
Freehold subject to the existing leases.
Accommodation & Tenancy Schedule:
The property offers the following (NIA) approximate dimensions:
AddressTenantFloor/UnitSq MSq FtLease ExpiryRent22-26 Oxford Road British Heart Foundation Ground Floor 479.19 sq m5,158 sq ft10.08.2027£100,000 p.a.Basement 528.33 sq m5,687 sq ftSubtotal1,007.52 sq m10,845 sq ft28-34 Oxford Road Tesco Stores Ltd Ground Floor 343.27 sq m3,695 sq ft24.05.2035£69,000 p.a.
Property information from this agent
About this agent
At Willmotts we pride ourselves in providing a first class service from start to finish. We have proven over 150 years of being an independent estate agent in West London that honesty and integrity is the key to success. That is why most of our business comes from in house clients and referrals. We are a member of the Guild of Professional Estate Agents, with over 750 offices nationwide and are the No.1 Independent Estate Agency Network so can give your property a huge amount of exposure. We are always looking to help and to go above and beyond to make sure our clients and customer get the service they deserve. We hope that by choosing Willmotts you will have chosen a property company that you want to deal with for the rest of your life. With very experienced and driven staff members, bespoke software, professional photographers, powerful marketing tools, high quality print advertising, subscriptions to all the major portals so we can show your property in the best light. We pride ourselves on being The Complete Property Service and will be able to help with whatever property needs you have. For a friendly chat about how Willmotts can help you or just to find about the market in your area please do not hesitate to contact us.