Retail property for sale in Reading

This property is marketed by:
Willmotts Chartered Surveyors

Location:

Reading, considered to be the capital of the Thames Valley, is a large affluent town in the county of Berkshire. Situated 38 miles west of Central London, 25 miles south of Oxford and 18 miles North of Basingstoke. Reading is the region’s main commercial centre and the focal point for economic growth along the M4 corridor.

Reading has also benefitted from Crossrail, with access to Bond Street in 53 minutes, Liverpool Street 61 minutes and Heathrow airport 28 minutes. It is predicted that the opening of the line will further enhance the town’s position as one of the South East’s main transport hubs.

Situation:

The town’s value-led retailing is located within Broad Street Mall at the western end of Broad Street on Oxford Road, with its primary entrance opposite the subject properties. The centre comprises approximately 400,000 Sq ft and is anchored by TK Maxx and Wilkinson’s. Other key retailers include Argos, Pure Gym, Metro Bank, Poundland, New Look, Footlocker and Superdrug

Description:

The McIlroy Department Store is one of Reading’s most historic landmarks, the property once known as the ‘Crystal Palace of Reading’ was built in 1903. In 1955 the Department Store ceased trading and has subsequently been split into well configured retail units arranged over ground and basement floors. Numbers 20 & 22-26 are situated in the middle of the parade occupiers including: Tesco, The Tanning Shop, Cream Ice Cream & Sue Ryder.

User:

We believe the premises fall under Class E of the Town & Country Planning (Use Class) (Amendment) Order 2005.

Accommodation: 

The property offers the following (NIA) approximate dimensions: -

20 Oxford Road (Corals)

Basement 1,508 sq ft, 140.10 sqm

Ground Floor 1,989 sq ft, 184.78 sqm

Total 3,497 sq ft, 324.88 sqm

22 -26 Oxford Road (BHF)

Basement 5,687 sq ft, 528.33 sqm

Ground Floor 5,158 sq ft, 479.19 sqm

Total 10,845 sq ft, 1,007.52 sqm

Terms:

Offers are invited in the region of £2,500,000 for the long leasehold interest. A purchase at this level would reflect a net initial yield of 6.00% after allowing for purchaser’s standard costs of 6.08%.

The properties may be available separately.

20 Oxford Rd    £975,000

22-26 Oxford RD £1,525,000

Tenure

Long leasehold – approx. 998 years unexpired at a peppercorn rent.

EPC:

Energy performance certificate has rating of B(38) for 20 Oxford Rd & C(66) for 22-26 Oxford Rd. A copy of the EPC is available upon request.