| Location |
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The property is located on the main roads out of Reading to the University and the South and is approximately one mile from the town centre. The property is within a busy parade of shops, agencies, restaurants and takeaways and benefits from parking outside and from with a car park opposite.
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| Description |
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The premises comprise a large terrace shop with basement together with spacious first and second floor residential. The residential benefits from gas fired central heating and UPVC double glazed windows but there is a need for redecoration. There is rear access to the property and onsite parking.
We are of the opinion that there is scope for substantially enlarging the property (see below).
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| Accommodation |
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Shop
Internal Width 4.52 m 14’ 10”
Retail Depth 11.54 m 37’ 7”
Shop Area 48.49 sq m 522 sq ft
Ancillary Office/Store 8.83 sq m 95 sq ft
Staff/Store 7.80 sq m 84 sq ft
Store 3.72 sq m 40 sq ft
Total Ground Floor 68.84 sq m 741 sq ft
Basement
Storage 29.91 sq m 322 sq ft
Total Area 98.75 sq m 1063 sq ft
First and Second Floor
Separate rear access leading to a large flat comprising:
First floor: One Bedroom, Lounge, Kitchen, and Bathroom/WC
Second Floor: Two Bedrooms (measurements on file).
Outside
To the rear of the property is a good parking area.
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| Development Potential |
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Many of the properties in Whitely Street have been substantially extended and altered to provide much larger shops and/or to provide additional residential space to the rear of the property. There is also the option of installing a front access for the residential
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| Tenancies |
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Shop
The shop premises are let on a full repairing and insuring lease for a term of 16 years from 27 April 1992, expiring 26 April 2008, with four yearly rent reviews to Help the Aged at £8000 per annum exclusive.
A large rental increase is anticipated in 2008.
Flat
The flat is let on an Assured Shorthold Tenancy at £700 per month.
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| Total income |
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£16,400 (sixteen thousand, four hundred pounds). In our opinion the shop rental is very low.
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| Terms |
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The Investment, with development potential, is offered subject to the above tenancies and with the development opportunities at £285,000.
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| Viewing |
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For
further information or an appointment to view please contact:
GEORGE
CHILVERS or NICK BERESFORD-OWEN
CHILVERS PAGE
Tel: 0118 958 0656
www.chilverspage.co.uk
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