No longer on the market
This property is no longer on the market
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Key information
Tenure: Freehold
Council tax: Ask agent
Features and description
- Freehold mixed-use building over five floors
- Excellent town centre location close to The Oracle and Reading Station
- Planning Approved for 3 x One Bedroom Apartments on upper floors
- Planning Application Number PL/22/1423
- £30,000 Section 106 contribution
- Current income: £40,600 p.a. Potential: £70,000 p.a.
- Flexible tenancies in place
Located in the heart of Reading town centre, 20 Cross Street is a versatile freehold commercial property arranged over five floors, offering both strong existing rental income and exciting development potential. The building is currently fully let, generating an annual income of £40,600, with a projected potential of up to £70,000 per annum.
The property comprises a beauty salon occupying the ground floor and basement levels, medical treatment rooms on the first floor, a tattoo parlour on the second floor, and office accommodation on the top floor. Tenancies on the upper floors are on flexible terms, allowing for vacant possession to be secured relatively quickly if desired.
Planning permission has been granted by Reading Borough Council (application number PL/22/1423) for the conversion of the upper floors into three one-bedroom residential flats. This approval presents a compelling opportunity for investors or developers to unlock additional value in a prime central location, just moments from The Oracle shopping centre and Reading railway station.
As part of the approved planning scheme, a £30,000 Section 106 affordable housing contribution is payable to Reading Borough Council.
20 Cross Street offers a rare opportunity to acquire a centrally located, income-generating asset with clear potential for residential conversion in one of the South East's fastest-growing urban centres. Viewings are strictly by appointment.
Location:
Cross Street runs between Broad Street and Friar Street in Reading Town Centre.
Reading is one of the south east's largest towns under 25 minutes from London by train, with trains running every five minutes or so, Reading is home to many of the city's commuters. Reading also has easy links by road or rail to Swindon, Oxford, Basingstoke, Heathrow and farther afield. Beyond the hive of commercial activity, Reading is nestled in the heart of Royal Berkshire offering beautiful riverside walks on the Thames and tow path ambles on the Kennet and Avon canals and with the nearby Berkshire Downs and Chilterns, beautiful countryside is never far away. Reading offers a rich mix of shops and markets. In the heart of the town, The Oracle combines chic boutiques with restaurants, cafes and brasseries to suit every taste on the riverside and within a minute's walk there are many high-street favourites including John Lewis and Marks & Spencer.
Reading school founded in 1125 is the 16th oldest school in England, there are 6 other state secondary schools along with 37 state primary schools in the borough. In addition there are some well-recognised and top ranked independent and public schools in Reading and its surrounding catchment. Schools such as Leighton Park, Queen Annes, The Abbey, Crosfields, Bradfield College, The Oratory and Bluecoat are just some of the outstanding public schools in the area. Kendrick girls' school is one of the top grammar schools in the UK. Reading University established in 1892 is a 'red brick' and ranked in the top 1% of universities in the world. There are almost 23,000 students from all over the globe.
The property comprises a beauty salon occupying the ground floor and basement levels, medical treatment rooms on the first floor, a tattoo parlour on the second floor, and office accommodation on the top floor. Tenancies on the upper floors are on flexible terms, allowing for vacant possession to be secured relatively quickly if desired.
Planning permission has been granted by Reading Borough Council (application number PL/22/1423) for the conversion of the upper floors into three one-bedroom residential flats. This approval presents a compelling opportunity for investors or developers to unlock additional value in a prime central location, just moments from The Oracle shopping centre and Reading railway station.
As part of the approved planning scheme, a £30,000 Section 106 affordable housing contribution is payable to Reading Borough Council.
20 Cross Street offers a rare opportunity to acquire a centrally located, income-generating asset with clear potential for residential conversion in one of the South East's fastest-growing urban centres. Viewings are strictly by appointment.
Location:
Cross Street runs between Broad Street and Friar Street in Reading Town Centre.
Reading is one of the south east's largest towns under 25 minutes from London by train, with trains running every five minutes or so, Reading is home to many of the city's commuters. Reading also has easy links by road or rail to Swindon, Oxford, Basingstoke, Heathrow and farther afield. Beyond the hive of commercial activity, Reading is nestled in the heart of Royal Berkshire offering beautiful riverside walks on the Thames and tow path ambles on the Kennet and Avon canals and with the nearby Berkshire Downs and Chilterns, beautiful countryside is never far away. Reading offers a rich mix of shops and markets. In the heart of the town, The Oracle combines chic boutiques with restaurants, cafes and brasseries to suit every taste on the riverside and within a minute's walk there are many high-street favourites including John Lewis and Marks & Spencer.
Reading school founded in 1125 is the 16th oldest school in England, there are 6 other state secondary schools along with 37 state primary schools in the borough. In addition there are some well-recognised and top ranked independent and public schools in Reading and its surrounding catchment. Schools such as Leighton Park, Queen Annes, The Abbey, Crosfields, Bradfield College, The Oratory and Bluecoat are just some of the outstanding public schools in the area. Kendrick girls' school is one of the top grammar schools in the UK. Reading University established in 1892 is a 'red brick' and ranked in the top 1% of universities in the world. There are almost 23,000 students from all over the globe.
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