995/995A Oxford Road, Reading, Berkshire, RG31 6TL

SUMMARY

* Opportunity to acquire a high yielding (9.5%), detached, newly developed residential investment opportunity comprising 4 x ensuite HMO rooms on the ground floor and 5 x use class C3 apartments.

LOCATION

* The property is located on Oxford Road, Tilehurst and is within a 2-minute walk from Tilehurst railway station, providing direct services to London Paddington.

DESCRIPTION

* The existing property comprises a detached, newly redeveloped building comprising 4 x ensuite HMO rooms and 5 x use class C3 apartments arranged from ground to second floor.

* The HMO units are arranged on the ground floor, extending to a total area of approximately 490 sqft NSA, with a communal kitchen extending to 140 sqft.

* There are 5 apartments, let on AST's, arranged from ground to second floor, extending to a total area of approximately 1,292 sqft NSA.

* The property extends to a total area of approximately 1,781 sqft NSA (2,319 sqft GIA).

* The property is fully let and generates a combined rental income of £96,900 per annum, reflecting an initial yield of 9.23% at the purchase price.

* There is scope to increase the rents to £99,540 per annum, reflecting an initial yield of 9.48% at the purchase price.

* The property has been converted from a residential dwelling.

* The rear of the property comprises a communal garden for the use of all residents of 995 & 995a Oxford Road.

* We have also been advised that there is a provision of 7 car parking spaces to the front of the property.

TERMS

* The property is not elected for VAT.

* The property is available freehold.