56 Prospect Street, Reading, Berkshire, RG4
£225.71 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,750 sq ft
163 sq m
- SECTOR
Commercial property for sale
Key features
- Fully Let Freehold Mixed-Use Investment
- Prominent Position on busy Prospect Street, Caversham
- Ground floor retail unit let to established dry-cleaning busines
- Two residential flats above (1-bed & studio)
- Excellent location near Caversham Bridge and Reading town centr
- EPC Ratings: Commercial A21 / Flat D62
- Attractive long-term income investment opportunity
Description
Freehold Mixed-Use Investment - Fully Let Property on Prospect Street, Caversham, Reading
A well-presented and fully let freehold mixed-use investment property, prominently situated on Prospect Street in the heart of Caversham's thriving retail centre. The property comprises a ground floor retail unit together with two residential flats above, producing a combined rental income of £28,700 per annum (inclusive of utilities for the flats).
Ground Floor Commercial: (circa. 625sq.ft) A fully let freehold mixed-use investment property comprising an established dry-cleaning business operating from the ground floor. The unit benefits from a double-fronted shop frontage, W.C., small kitchenette, and rear access to the bin area and to the self-contained upper flat.
Commercial Lease: 12-year FRI Lease from 9th June 2020 until 8th June 2032. Current Rental Income: £13,000 per annum (£1,083 per month). 4 Year Rent reviews - June 2024 (not yet enacted) & June 2028) Rent Paid Quarterly - 3 month Rent Deposit (£3,250). Inside the L&T Act 1954. No Break Clause.
Commercial EPC - A21 - Valid until 17th Oct. 2032 Rateable Value - £24,250 (covered by tenant)
The Upper Floors are arranged as a one-bedroom flat on the first floor and a studio flat on the second floor, currently let and producing a combined rental income of £16,200 per annum. The flats share a bathroom and have separate electricity meters.
Residential EPC: D62 (Valid to February 2029).
Located close to Caversham Bridge and within walking distance of Reading town centre and the mainline station, this property enjoys excellent footfall, transport links, and access to local amenities.
This is an ideal long-term investment opportunity, offering a stable income stream from both commercial and residential tenants in one of Reading's most desirable suburban retail locations.
Total Rental Income: £2483pcm / £29,800 p.a. - incl. gas -separate electricity (pay as you go) submeters and water covered by tenants.
Price: £395,000 Freehold
Ref: DR.1659
Viewing strictly by appointment through:
Lansley Commercial - |
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56 Prospect Street, Reading, Berkshire, RG4
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Reading Station0.7 miles
- Reading West Station1.2 miles
- Tilehurst Station2.5 miles
Notes
Disclaimer - Property reference DR1659. 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 Lansley Commercial, 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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