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Unit L7A, Lower Mall Bridge Street, Reading, RG1 2AG
Use Class
E(a)
Size
993 sq ft
Rent pa
£160,000
Market Sector
Shopping Centre
Description
ON THE INSTRUCTIONS OF AURUM GROUP LTD PRIME RETAIL UNIT - TEMP/SUBLEASE CONSIDERED
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.
Key Information
Viewing
Strictly by appointment.
Accommodation
993 Sq.Ft
Additional Contacts
Asset Managers
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.
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
Next review date 2020/07
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.
Incentive
Incentives available subject to covenant.
Service Charge
2016/17 - £11,236 pa.
Tenure
Leasehold
Rates
This Property is Part of a Shopping Centre
The Oracle
Since opening in 1999, The Oracle has become the foremost shopping and leisure destination in the heart of Reading town centre. 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.
Disclamier
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.
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