Lot 3 - 81 London Street, Reading, Berkshire, RG1 4QA
- Unconditional Online Auction Sale
- Guide Price* : £650,000
- Bedrooms: 6
- Bathrooms: 2
Freehold Mixed-Use Investment /Development – Central Reading
Description
A prominently positioned Freehold building in the heart of Reading, benefiting from approved planning consent for the conversion of the upper floors into two spacious 3-bedroom apartments, each measuring approximately 104 sq m (Planning Ref: PL/23/1535, Reading Borough Council).
The property currently generates a strong and reliable income from the ground-floor commercial unit and on-site car park, producing a combined £19,000 per annum.
This investment provides both immediate rental income and significant potential for capital growth through the residential conversion already approved.
In addition, there is scope for further residential development on the first floor, subject to the usual planning consents.
Tenure
Freehold
Accommodation
Ground Floor
Commercial space currently let to Shichida UK
First Floor
Office accommodation
Second Floor
Office accommodation
Outside
Private car park
Location
The property is situated in a vibrant and well-connected area of Reading, benefiting from excellent public transport links and a wide range of local amenities directly on the doorstep. Forbury Gardens is close by, offering attractive green space, while the Royal Berkshire Hospital, Reading University, and Reading Station are all easily accessible. The location also provides convenient access to the town’s extensive selection of shops, bars, and restaurants.
Planning
Planning permission has been granted for the creation of 2 × 3-bedroom apartments (Planning Ref: PL/23/1535, Reading Borough Council).
Tenancy
Commercial space currently let to Shichida UK
Sector
Mixed Use
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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