Sweeney & Todd, 10 Castle Street, Reading, Berkshire, RG1 7RD

The property comprises a Grade II listed building arranged over basement, ground, and three upper floors.

The ground floor houses a well known pie shop and restaurant, with a separate entrance providing access to the upper floors. Planning permission has been granted for the conversion of the upper parts into four residential flats, offering a valuable development angle.

The building retains many original features and offers a unique blend of character and commercial potential.

Sweeney & Todd occupies a prominent position on Castle Street in the heart of Reading town centre, just a short walk from The Oracle shopping centre, Reading Station, and key cultural landmarks such as The Hexagon and Minster Church.

This central location benefits from high footfall, excellent transport links, and proximity to a thriving mix of retail, leisure, and residential uses. Reading itself is a major commercial hub in the Thames Valley, with strong demographics and ongoing investment in town centre regeneration.

Internally, the restaurant provides seating for up to 100 covers across a mix of open plan dining space and intimate alcoves, creating a warm and inviting atmosphere.

The basement level includes a dining area and ancillary storage. The ground floor shop front serves as a deli and takeaway counter, offering a wide range of pies, pasties, sausage rolls, and cold meats.

The upper floors, currently used for office and storage, are approved for conversion into residential accommodation.

The property benefits from a traditional shop frontage onto Castle Street, with a separate access to the upper floors via a side entrance.

There is no external seating or garden area, but the central location ensures strong visibility and accessibility.

Nearby public car parking and pedestrian routes support both daytime and evening trade.

There is no dedicated owners’ accommodation currently in use, but the approved planning scheme includes a self-contained apartment at the rear of the ground floor, which could be adapted for owner-occupier use or let independently.

This is a rare opportunity to acquire one of Reading’s most iconic food businesses, established in 1978 and still trading strongly with a loyal customer base and excellent reputation.

The business generates a net turnover of approximately £700,000 with profits in the region of £140,000. A new operator could build on this success, expand the brand, or reposition the offer to suit modern dining trends. Alternatively, the property lends itself to redevelopment, with planning permission in place for four flats and scope to enhance the ground floor commercial use.

The site would suit developers, restaurateurs, or pub operators seeking a town centre presence with heritage appeal and income potential.

The business is run by five full-time and three part-time staff, alongside two owner-operators who are actively involved.

This lean and experienced team ensures smooth day-to-day operations and strong customer service. TUPE would apply for members of staff who wish to stay.

For the year ending April 2025, the business generated £700,000 in net turnover and a net profit of £140,000. This reflects consistent trade and efficient cost control, with further upside potential.

The site benefits from planning permission for residential flats, presenting a clear opportunity for redevelopment or mixed-use conversion. Alternatively, there is scope to expand the trading footprint or diversify income streams, subject to planning.

Rates payable for 2025-26 were just over £9.6k.

Premises licence