Office for sale in 229 Hyde End Road, Spencers Wood, Reading RG7

Key Points

Description

The property comprises a level rectangular shaped site including two detached buildings and 21 car parking spaces.

The northern building is planned over two storeys and provides 6 no. 1 bedroom apartments and 1 no. 2 bedroom apartment.

The southern building is planned over two storeys and provides approx. 2,664 sq. Ft. (Net Internal Area) of office accommodation split between 7 no. Office suites.

Floor plans are available on request.

Location

The property is situated on the south side of Hyde End Road within the popular and sought-after village of Spencers Wood, Berkshire.

The property lies within easy walking distance of many local amenities including shops, pubs and a primary school. Reading town centre with its multiple facilities lies approximately 5.5 miles to the north. The new Green Park railway station lies just a short drive north of the property, connecting to Crossrail and national services at Reading Station.

Residential Tenancy

3 no. Apartments have been recently refurbished and let on a long-leasehold basis. Nominal grounds rents are paid to the freeholder.

4 no. Un-refurbished 1 bedroom apartments are let to private tenants on ASTs currently producing a reversionary total rent of £27,600 per annum. We believe the estimated rental value of each apartment to be c. £800 pcm.

Commercial Tenancy

3 no. Office suites are currently let on short/medium term leases and produce c. £24,640 per annum exclusive (£29.63 per sq. Ft.).

4 no. Office suites are currently vacant. We believe the combined estimated rental value of the vacant suites to be c. £35,300 per annum exclusive (£20.00 per sq. Ft.).

A schedule of accommodation is available on request.

Offers

The holding company of the property (Hyde End Road Development Ltd) is offered for sale via a transfer of going concern. Offers invited.

Legal Costs / VAT

Each party to bear their own legal costs.
This property is elected for VAT.

Viewing & Further Information

Please contact the sole agents for further information or an appointment to view.