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56 Prospect St 1,646 SF Retail Building Reading RG4 8JL $531,064 ($322.64/SF)
Investment Highlights
- Prominent position on Prospect Street in the heart of Caversham’s busy retail centre.
- Established dry-cleaning business occupying the commercial element.
- Total current rental income £29,800 per annum (inclusive of utilities for flats).
- Excellent location close to Caversham Bridge and Reading town centre.
- Fully let investment comprising ground floor shop and two residential flats above.
- Residential upper parts arranged as one-bedroom flat and studio flat.
- EPC Ratings – Commercial A21 (Valid to Oct 2032) / Flat D62 (Valid to Feb 2029).
- Ideal long-term income investment.
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 Pending
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
$531,064
Price Per SF
$322.64
Tenancy
Single
Building Height
3 Stories
Building FAR
0.94
Lot Size
0.04 AC
Frontage
30’ on Prospect Street
Amenities
- Security System
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Nearby Major Retailers
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56 Prospect St
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