Hammerson

Unit L7A, Lower Mall, The Oracle

, Bridge Street

, Reading, RG1 2AG

Retailer Disposal

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

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 Scheme

Misrepresentation 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.

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