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10 bedroom apartment

0118 443 9360

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10 bed

0 bath

Key information

Tenure: Freehold

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Property description & features

Tenure: Freehold
Potential Annual Rental in Excess of £156,000
Gross Development Value in Excess of £3m
Currently 9 Let Apartments Generating £80,000+ Rental
Planning Approval to Add Three Additional Units
Superb Location Short Walk To Caversham Centre and Reading Station
Gardens to the Rear with Potential to Create 18 Parking Spaces
Current Accommodation of approximately 4142 sq. ft. (385 sq. m.)
5 x 1 bed apartments, 1 x 2 bed, 1 x 3 bed & 2 x 1 bed terrace houses

An Opportunity to purchase a portfolio of nine existing fully let units in a row of former Victorian alms-houses with planning to add three additional units and parking to the rear for up to eighteen cars. The existing portfolio is generating £79,800 rental per annum. This site is conveniently located a short walk from the vibrant centre of Caversham with its excellent selection of bars, cafes, restaurants and shops, also within an easy walk of Reading Station with its direct links to London Paddington in under 25 minutes and soon to feature on the tube network with the Elizabeth Line (Crossrail) linking Reading to the City of London and Canary Wharf. Existing accommodation which has an approximate area of 4142 sq. ft. (385.5sq. m.) comprises a total of 5 x 1 Bedroom apartments, 1 x 2 bedroom apartment, 1 x 3 bedroom apartment and 2 x 1 bedroom terrace houses. The site has planning permission to add an additional 2780.38 sq. ft. (258.4sq. m.) of accommodation made up of 1 x 1 bedroom, 1 x 2 bedroom and 1 x 3 bedroom units and extra living space in the existing dwellings. The existing units require updating and with completed works and development of the additional units as per the planning approval the site represents a Gross Development Value (GDV) of approximately £3m and annual rental return in excess of £155,000. The site is available to purchase as a going concern with potential to add a huge amount of value in one of the most desirable locations in Reading.

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Winkworth - Reading

Blagrave House, Blagrave Street Reading RG1 1QB

0118 443 9360

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