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Maiden Lane Centre Reading, RG6 3HD
Agents
Green & Partners
Jonny Gooch
Ed Smith
Will Civil
Anita Briant
Use Class
E
Size
24,428 sq ft
Price
£4,500,000
Key Features
Lower Earley is an affluent suburb located to the South East of Reading.
Anchored by Sainsbury’s accounting for 22% of the income.
Low affordable rents with consitently low vacancy rates and many long term tenants.
An attractive WAULT of 6.73 years to expiry and 6.19 years to break.
Substantial parking for both customers and residents, totalling 250 spaces outside of the demise.
Freehold.
Description
Featuring a largely two-storey development around a small open square, the centre boasts a series of retail units at ground level with either commercial studios or residential units at first floor level constructed from brick and concrete.
The opportunity offers a versatile mix of 13 retail units, 1 leisure unit, and 5 commercial studios. On the upper parts of the retail spaces are 11 one and two bedroom flats, providing an attractive residential component. Additionally, the property benefits from two car parks totalling 250 spaces, which tenants have the legal right to use at all times and in perpetuity, although these car parks are not included in the site’s ownership.
Key Information
Legal
In order to comply with anti-money laundering legislation a successful purchaser will be required to provide certain identification documentation. These documents will be confirmed to and requested from the successful purchaser by the vendor and their professional advisors at the relevant time but before an exchange of contracts
Accommodation
24,428 Sq.Ft
Downloads
Downloads
Financial
Lease Term
The freehold property has a Weighted Average Unexpired Lease Term (WAULT) of 6.73 years to expiry and 6.19 years to break.
Price
We have been instructed to seek offers of £4,500,000 (Four Million Five Hundred Thousand Pounds) Subject to Contract & Exclusive of VAT, which reflects a Net Initial Yield of 7.94% allowing for graduated purchaser’s costs. The vendor is under no obligation to accept the highest, or indeed, any offer received.
Service Charge
A service charge is in place with the 2024 budget totalling £55,490. A full breakdown of the service charge including apportionments is available upon request.
Vat
The property has been elected for VAT and any disposal will be by way of a Transfer of a Going Concern (TOGC).
Sustainability
Full suite of the commercial EPC’s available upon request.
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.
All data ©2024 Completely Property Technology Limited
This was last updated on 19/11/2024