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

POA
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Office for sale 11,326 sq. ft*

Property description

Key Points

  • Highly reversionary investment opportunity
  • Popular Berkshire location close to Junction 11 of M4
  • 4 no. Residential apartments let on ASTs
  • 3 no. Refurbished residential apartments let on long-leases
  • 7 no. Refurbished/new office suites partially let
  • Total current income of c. £52,600 per annum excl.
  • Total estimated rental value of c. £98,340 per annum excl.
  • 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.

    Property info

    * Sizes listed are approximate. Please contact the agent to confirm actual size.

    Arrange Viewing

    For more information about this property, please contact
    Haslams Commercial, RG1 on +44 118 443 9441 * (local rate)

    Contact Haslams Commercial about this property

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    Disclaimer

    Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Haslams Commercial, and do not constitute property particulars. Please contact Haslams Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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