Log In/Sign Up
Your email has been sent.
56 Prospect St 1,646 SF Retail Building Reading RG4 8JL $540,134 ($328.15/SF)
Investment Highlights
- Corner Position
- Established Location
- Prominent Caversham Location – Busy retail parade near Caversham Bridge and Reading town centre.
- Mixed-Use Investmemt
- Fully Let Freehold Mixed-Use Investment – Shop with two residential flats above.
- Established Commercial Tenant – Long-standing dry-cleaning business in occupation.
Executive Summary
A fully let freehold mixed-use investment property comprising:
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.
Upper Parts (Residential): Originally configured as a single three-bedroom flat, the upper accommodation is currently arranged and let as two separate units — a one-bedroom flat (first floor) and a studio flat (second floor).
First Floor 1 Bedroom Flat: Comprising a good-sized living room, fitted kitchen, and one double bedroom. Rental Income: £8,400 per annum (£700 per month)
Second Floor Studio: Comprising kitchen, living room, and one bedroom. Rental Income: £8,400 per annum (£700 per month).
Total Rental Income: £2483 pcm / £29,800 p.a. – incl. gas -separate electricity (pay as you go) submeters and water covered by tenants.
This attractive freehold mixed-use investment offers a stable and fully let income stream from both commercial and residential tenants in a highly desirable and established retail location. PRICE:- £395,000 FREEHOLD
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.
Upper Parts (Residential): Originally configured as a single three-bedroom flat, the upper accommodation is currently arranged and let as two separate units — a one-bedroom flat (first floor) and a studio flat (second floor).
First Floor 1 Bedroom Flat: Comprising a good-sized living room, fitted kitchen, and one double bedroom. Rental Income: £8,400 per annum (£700 per month)
Second Floor Studio: Comprising kitchen, living room, and one bedroom. Rental Income: £8,400 per annum (£700 per month).
Total Rental Income: £2483 pcm / £29,800 p.a. – incl. gas -separate electricity (pay as you go) submeters and water covered by tenants.
This attractive freehold mixed-use investment offers a stable and fully let income stream from both commercial and residential tenants in a highly desirable and established retail location. PRICE:- £395,000 FREEHOLD
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
1,646 SF
Building Class
C
Year Built
1970
Price
$540,134
Price Per SF
$328.15
Tenancy
Single
Building Height
3 Stories
Building FAR
0.94
Lot Size
0.04 AC
Frontage
30’ on Prospect Street
Amenities
- Security System
1 1
Nearby Major Retailers
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
56 Prospect St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.