The premises comprise a double fronted Coop Store a two storey restaurant unit plus 3 further units comprising 2 takaways plus one shop.
The buildings are of brick construction under pitched and tiled roofs.
The property benefits from dedicated off street car parking to the front of the parade.
In addition, at the rear there is an undeveloped strip of land which could be suitable for development subject to planning.
Location
Burghfield Common Is located 5 miles west of Reading via the A4 trunk road. The town is conveniently positioned just 7 miles from junction 11 of the M4 motorway giving fast access to both Birmingham in the north and London to the south.
Since the 1980s the population of Burghfield has nearly doubled with the construction of many new housing estates making it a dormitory for Reading, Newbury, and Basingstoke.
The property is situated on Clayhill Road close to its junction with Woodlands Avenue and serves a densely populated residential catchment area.
Accommodation
31, 31A, 33 & 33A (Shop and Flats) - 3,085 sq ft
31A (Flat)
33A (Flat)
35 & 35A (Shop and Flat) - 1,171 sq ft
Flat
Shop - 523 sq ft
39 (Shop) - 702 sq ft
41 (Shop) - 603 sq ft
For a more detailed view of the accommodation, please view attached brochure
Terms
PROPOSAL
We have been instructed by the vendor to seek offers in the region of £1,450,000 subject to contract.
A purchase at this level reflects a net initial yield based on 7% on the Coop rent and 7.5% on the local tenants.
SUMMARY OF LEASE/TENANCY
The total passing annual rent from the 5 tenancies is £110,679 per annum. This includes a vendor top up on the Coop unit which has an CPI uplift at review in April 2024.
LEGAL COSTS
Each party to be responsible for their own legal costs incurred in this transaction.
TENANCIES
For a detailed view of the tenancy schedule, please view attached brochure.
Specification
- Attractive Unbroken Retail Parade
- Anchored by a Coop Convenience Store
- Self-Contained residential upper parts
- Freehold
- Current total rent £ 110,679 pa (including vendor top up)
- Offers sought in the region of £1,450,000 stc
- Net Initial blended yield of 7% on the Coop rent & 7.5% on the local covenants