Unit L7A, Lower Mall, The Oracle
, Bridge Street
, Reading, RG1 2AG
Use Class
A1
Size
993 sq ft
Rent pa
£160,000
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ON THE INSTRUCTIONS OF AURUM GROUP LTD PRIME RETAIL UNIT - TEMP/SUBLEASE CONSIDERED
Description
The premises are available by way of a Lease Assignment with incentives available subject to covenant.
Location
The unit is situated in a prime position on the lower ground level of The Oracle Shopping Centre benefitting from an annual footfall of 16 million. The unit is adjacent to Zara and Disney Store and opposite Lush with nearby retailers including Superdry, Hollister, New Look Man, Goldsmiths, Beaverbrooks, H Samuel, Kiehl’s and H&M. House of Fraser and Debenhams are also located in close proximity.
Tenure
Leasehold
Use Class
A1
Viewing
Strictly by appointment.
Financial
Lease Type
Existing Lease
Lease Term
The premises are held on an effectively full repairing and insuring lease for a term of 10 years from 20 July 2015 subject to an upward only review at the end of the 5th year.
Incentive
Incentives available subject to covenant.
Rent
The higher of the following base rents or 8% of gross turnover exclusive of VAT. With effect from: 20.07.17 £155,000 pax 20.07.18 £157,500 pax 20.07.19 £160,000 pax
Rent Review
2020/07 - 5 years
Rates
Transitional relief has not been applied to the above and therefore interested parties are advised to verify these figures by contacting the local authority, Reading Borough Council, 0118 939 0900.
Costs
Each party is responsible for their own legal and other professional costs incurred in the transaction.
Service Charge
2016/17 - £11,236 pa.
The Oracle
Since opening in 1999, The Oracle has become the foremost shopping and leisure destination in the heart of Reading town centre, is the region's premier shopping and leisure destination The Oracle’s restaurant and leisure venue, the Riverside, is home to 20 cafés and restaurants which include Las Iguanas and Wagamama and a 10-screen Vue cinema. Over £31m has been invested over the last three years into car park and riverside refurbishment and the double height shop fronts. New Next and River Island flagship stores are opening as well as the newly refurbished Debenhams.
View SchemeMisrepresentation Notice
All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.
