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Retail Investments, Residential Investments, Development - Residential, Mixed Portfolio Investments, Lock up storage, Light Industrial units for Sale
Wokingham Road & 1 Pitcroft Road, Reading, RG6
2,832 sf
Retail Investments, Residential Investments, Development - Residential, Mixed Portfolio Investments, Lock up storage, Light Industrial units for Sale
Wokingham Road & 1 Pitcroft Road, Reading, RG6
119 Wokingham Road comprises a ground floor retail unit with a flat above which is currently let and income producing. 1 Pitcroft Avenue provides two single lock up garages which are also let out.
The property as a whole offers a future conversion and development opportunity, subject to planning. Plans have been produced for a scheme which would retain a ground floor shop at the front, with 3-flats above (2x2-bed and 1x1-bed) and 3x2-bed terrace houses. A copy of the plans are available upon request.
Features
- For sale freehold
- Mixed use
- Rarely available
- Income producing
- Development opportunity (STP)
- Of interest to investors and developers
- Indicative floor plans & existing leases available
Tenure
We understand the ground floor shop (119 Wokingham Road) is let to Sue Ryder on a 5-year Internal Repairing & Insuring lease (contracted outside the L&T Act) from 5th February 2022 with a mutual break after 3 years at an annual rent of £14,000 pax.
The first floor flat (1a Pitcroft Avenue) is let on a shorthold tenancy agreement at £12,600 pax.
The two single lock-up garages at 1 Pitcroft Avenue generate a rental income of £960 per annum.
Copies of the lease documents are available on request.
Energy Performance Asset Rating
119 Wokingham Rd - Grd Flr Shop - EPC Rating: C:67
1a Pitcroft Avenue - 1st Flr Flat - EPC Rating: E:54
1 Pitcroft Avenue - Garage & Workshop - Exempt
Business Rates & Council Tax
119 Wokingham Rd - Grd Flr Shop - £16,750
1 Pitcroft Avenue - Garage & Workshop - £6,400
1a Pitcroft Avenue - 1st Flr Flat - Council Tax Band B
Legal Costs / VAT
Each party to bear their own legal costs.
VAT is NOT payable.
Viewing & Further Information
Please contact the sole agent for further information or an appointment to view.
Location
Prominent corner position close to University of ReadingThe property is prominently located on the corner of Pitcroft Avenue and Wokingham Road, one of the main roads leading east from the town and approximately 2 miles from Reading town centre.
what3words ///nods.then.class
Amenities
? For sale freehold? Mixed use
? Rarely available
? Income producing
? Development opportunity (STP)
? Of interest to investors and developers
? Indicative floor plans & existing leases available
Related links
Industrial Units for SaleIndustrial Units for Sale in ReadingDevelopment Property for SaleDevelopment Property for Sale in ReadingInvestment property for SaleInvestment property for Sale in ReadingHaslams
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