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SOLD STC

Mount Pleasant, Reading, RG1

£400,000
Added on 17/09/2021
Winkworth, Reading
PROPERTY TYPE
Apartment
BEDROOMS
×3
BATHROOMS
×3

Key features

  • Investment Opportunity
  • Freehold Victorian Terrace Conversion
  • Town Centre Location
  • Three Self Contained Apartments
  • Fully Let on Assured Shorthold Tenancies
  • Two One Bedroom Units & A Studio
  • Current 6.8% Rental Yield (Potential 7%+)
  • Generating £27,275.76 Annual Rental Income

Property description

Tenure: Freehold

An exciting opportunity to purchase a Town Centre freehold consisting of three self contained apartments all fully let on Assured Shorthold Tenancy agreements. The property consists of two one bedroom apartments, one on the ground floor and another on the first floor of this Victorian Terrace conversion, and a studio apartment in a converted garage to the rear and separately accessed via Spring Terrace. These conveniently located properties have been successfully let for a number of years and form part of the sale of an estate. Each apartment has been well maintained and currently generate a combined rental income of £27,275.76 per annum with potential to increase this figure in the booming local rental market. The purchaser will benefit from a turn key investment and a going concern with fully referenced tenants secured on Assured Shorthold Tenancy agreements with the following monthly rental values - 53a (ground floor) - £795. 53b (first floor) - £795 and 53c (studio) - £682.98. This is an excellent opportunity to acquire a small portfolio for a first time investor or add to a larger portfolio for an experienced landlord and take advantage of the excellent local rental market. There is a great supply of professional tenants in Reading or, being under a mile from Reading University, the property could make perfect student accommodation giving the new owner plenty of options and making this a superb investment.

Location:
Mount Pleasant is on the Southern edge of Reading Town Centre. It is a one way street running from London Street and Silver Street to its north and into Whitley Street and Basingstoke Road to the South. Reading is one of the south east's largest towns only 25 minutes from London by train, with trains running every five minutes or so, Reading is home to many of the city's commuters. Reading also has easy links by road or rail to Swindon, Oxford, Basingstoke, Heathrow and farther afield. Beyond the hive of commercial activity, Reading is nestled in the heart of Royal Berkshire offering beautiful riverside walks on the Thames and tow path ambles on the Kennet and Avon canals and with the nearby Berkshire Downs and Chilterns, beautiful countryside is never far away. Reading offers a rich mix of shops and markets. In the heart of the town, The Oracle combines chic boutiques with department stores such as Debenhams and House of Fraser and within a minute's walk there are many high-street favourites including John Lewis and Marks & Spencer. There are restaurants, cafes and brasseries to suit every taste in Reading. Plus there are numerous bars and restaurants on the Oracle Riverside.
Reading school founded in 1125 is the 16th oldest school in England, there are 6 other state secondary schools along with 37 state primary schools in the borough. In addition there are some well-recognised and top ranked independent and public schools in Reading and its surrounding catchment. Schools such as Leighton Park, Queen Annes, The Abbey, Crosfields, Bradfield College, The Oratory and Bluecoat are just some of the outstanding public schools in the area. Kendrick girls' school is one of the top grammar schools in the UK. Reading University established in 1892 is a 'red brick' and ranked in the top 1% of universities in the world. There are almost 23,000 students from all over the globe.

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Mount Pleasant, Reading, RG1

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Reading Station0.8 miles
  • Reading West Station1.2 miles
  • Earley Station2.1 miles
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About the agent

Winkworth, Reading

Blagrave House 17 Blagrave Street, Reading, RG1 1QB

Winkworth was established in 1835 selling homes for the landed gentry in London and the home counties and 2014 opened its doors in Reading under the guidance of three vastly experienced local property professionals; Jon Hallett, Michael Foldvari and James Hathaway. Part of a network of over 100 offices, all of which are owner operated franchises, clients receive the benefit of a trusted market leading brand along with the hands-on and personal approach of an independent agency.

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Disclaimer - Property reference REA210375. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Winkworth, Reading. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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