FOR SALE - Price Reduced - Rental Income Increased to £25,000 per annum - Return of 6.75%
LONG LEASEHOLD (999 YEARS) COMMERCIAL INVESTMENT PROPERTY ON THREE FLOORS
BUSINESS UNAFFECTED
2 GUN STREET,
READING, BERKSHIRE,
RG1 2JR
LOCATION
The property is situated in a busy, well established part of Reading occupying a prominent position on Gun Street and within close proximity to The Oracle Shopping Centre and a short walk to Broad Street and Reading Railway Station.
LONG LEASEHOLD
The property is held on a 999 year term commencing 16th November 1993.
NOTES
Rateable Value:- £22,750 - tenant is liable for rates
VIEWING
Strictly by prior arrangement with Messrs A H Lansley - ---- --- ----.
PRICE:- £375,000 LONG LEASEHOLD - Reduced Price
* Monthly Free Cashflow: Undisclosed
* Premises Details: Ground Floor:- Hairdressing Salon (approx. 25’8” x 16’10” - 450sq.ft.). Fire exit and bin area at rear.
First Floor:- Salon (approx. 28’7” x 9’ - 258sq.ft.). Beauty / Nail (approx. 13’2” x 8’1” - 107sq.ft.). Beauty Room (approx. 12’2” x 7’8” - 96sq.ft.).
Second Floor:- Beauty Room One (approx. 13’3” x 8’3” - 108sq.ft.). Beauty Room Two (approx. 11.11” x 8’6” - 100sq.ft.). Kitchenette (approx. 11’9 x 9’3” - 108sq.ft.). Utility Cupboard. Water Heater Cupboard. Boiler. Two toilets.
* Sector: Commercial Property
* Industry: Other
* EPC: D-81 - 8th March 2031
* Looking For: Buyer
* Lease Terms: RENTAL INCOME
The property is sub-let as a whole and trades as an Hair & Beauty Salon. The sub-lease (within the Act) is for a term of 15 years (commencement date 27th June 2012) and is subject to 5 year reviews - Current rent £25,000 per annum, i.e. £2083 per calendar month.
ROI - 6.75%
