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Commercial Property for sale

Broad Street, Reading

Guide Price £4,500,000

Property Description

Key features

  • Prime freehold retail investment
  • Gross initial yield of 5.5% based on the guide price
  • Blue chip tenant - Let to Halifax Plc
  • FRI Lease from 15 June 2007-14 June 2022
  • Passing rent of 245,500 pa
  • Nearby occupiers John Lewis, Next, Broad Street Mall
  • GF ITZA: 127.98 m2/ 1,377 ft2
  • Total NIA: 646.30 m2 / 6,956 ft2

Full description

This large double fronted period brick built property is set over four floors and is occupied by Halifax Plc.

The property is entered at ground floor level to the large customer area that hosts several cash dispensers towards the front with various customer seating areas and frosted glass partitioned meeting rooms to the left. The main banking counters are located to the rear of the ground floor.

The first floor has the advantage of further office space and training rooms. The second floor has additional office space and staff kitchen/ restroom area. The third floor is currently used as storage space. Most of the areas have plastered and painted walls, cat II lighting and air conditioning.

Description Continued - Externally, there are two cash dispensaries. Parking is available in the nearby NCP Broad Street Mall located just a few hundred metres away.

Accommodation - GF ITZA: 127.98 m2/ 1,377 ft2
Ground floor: 304.98 m2 / 3282 ft2
First floor: 237.10 m2 / 2,552 ft2
Second floor: 72.47 m2 / 780 ft2
Third floor: 31.75 m2 / 341 ft2
Total NIA: 646.30 m2 / 6956 ft2
(Net internal floor area)

Tenure - Freehold, subject to occupational tenancy

Services - We understand the property to have mains gas, electricity, water and drainage. We advise all interested parties to make their own enquiries.

Rateable Value - The property has a current rateable value of £216,000. We advise all interested parties to make their own enquiries.

Vat - The property is not elected for VAT.

Buyer's Premium - 2.4% (min. £3,000) inc. VAT

Sell Your Property - If you are thinking of selling your property, contact us now for a free appraisal and benefit from:

•0% Seller Fee
•£0 Entry Fee
•£0 Marketing Costs
•20 Working Day Completion
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