Foodstore and Leisure Funding Opportunity – Basingstoke Road, Reading

Aldi, Pure Gym and Greene King, 350 Basingstoke Road, Reading RG2 0NT

• Reading is one of the principal commerical centres along the M4 corridor with an extensive and affluent primary catchment population of 677,000
• Prime Foodstore and Leisure investment located on the busy Basingstoke Road (B3031) approximately 2.1 miles (3.4km) south of Reading town centre
• Established out of town location adjacent to a Morrisons foodstore and in close proximity to Brunel Retail Park where occupiers include Halfords, Pets at Home, 99p Stores, Next, Currys, ScS, B&M, Maplin, Dreams and Laura Ashley
• Upon Practical Completion the subject property will comprise a Foodstore, Gym and Public House & Restaurant comprising a total of 39,868 sq ft (3,704 sq m) with 200 car parking spaces equating to an excellent ratio of 1:199 sq ft
• Freehold
• The property is pre-let to Aldi Stores Limited, Greene King Brewing and Retailing Limited and Pure Gym Limited on new 15 year term certain leases from Practical Completion
• All leases are subject to 5 yearly rent reviews linked to the Retail Price Index (RPI)
• 73% of the income is secured against 5A1 covenants
• Total initial income of £593,800 per annum, equating to a low average rent of £14.89 per sq ft