Status: Sold
Terms: Freehold
Price: £9,650,000
Yield: 6.0%
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
Foodstore and Leisure Funding Opportunity - Basingstoke Road, Reading
Basingstoke Rd, Reading RG2 0NT, UK
CONTACT: