Office for sale in 63 Milford Road, Reading RG1

Key Points

Description

The property comprises an end of terrace three storey office building of traditional brick construction. The accommodation provides largely open plan office accommodation with a store / warehouse area to the rear of the ground floor with 3.5m eaves and electric roller shutter door. Each of the floors are self-contained with their own boiler and utility supplies and are accessed via a communal ground floor entrance with entry phone system. Externally the property benefits from 8 allocated car parking spaces within a large concrete surfaced car park to the side which can be accessed directly from Milford & Cremyll Road.

Location

The premises are situated on Milford Road which is accessed from Richfield Avenue via Tessa Road and Cremyll Road located approximately half-a-mile to the northwest of Reading town centre.
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Specifications

- Shower installation
- LED and Cat 2 lighting
- CCTV and Alarm system
- Gas fired central heating
- Air conditioning on all floors
- Kitchenettes on all floors
- WCs on all floors
- Telephone entry system
- 8 allocated parking spaces

Lease Summary

The property is occupied by the current owner (First & Second floors) with a separate ground floor tenant; R & R Thompson Services Ltd. The ground floor generates a total rental income of £13,500 pa exclusive of all other costs. It is let on an Fri basis for a term of 3 years expiring 24th September 2025. A copy of the lease document is available on request. The Vendor will either vacate upon completion or agree a short-term lease that aligns with the ground floor lease, subject to the purchaser’s preference and negotiations.

Terms

The Freehold interest is available for sale at a price of £525,000. The intention is to sell the property as a Transfer of Going Concern (togc).

Legal Costs / VAT

Each party to bear their own legal costs.

Prices are quoted exclusive of VAT, but we understand the property is not currently elected for VAT.

Business Rates

The Rateable Value is currently assessed by floor as follows:

Ground Floor - £11,750
First Floor - £10,750
Second Floor - £9,500

Anti-Money Laundering Regulations

To comply with Anti Money Laundering regulations, Haslams Surveyors LLP undertake id checks for all successful purchasers and tenants where legislation requires us to do so.

Viewing & Further Information

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