Unit L7A, Lower Mall, The Oracle

Bridge Street

Reading, RG1 2AG

Use Class E(a)

993 sq ft

£160,000

Use Class

E(a)

Size

993 sq ft

Rent pa

£160,000

Marketed by Stephen Kane & Co,

Last updated 20/11/2019

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.

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.

Use Class

A1

Tenure

Leasehold

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.

Rateable Year:	2018
Rateable Value:	£141,000.00
Rates Payable:	£69,513.00
UBR:	49.3p/£

Costs

Each party is responsible for their own legal and other professional costs incurred in the transaction.

Service Charge

2016/17 -    £11,236 pa.

Last Updated

20/11/2019

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.