70 School Rd
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70 School Rd
1,257 SF Retail Building Reading RG31 5AW $664,549 ($529/SF) 4.95% Cap Rate
Investment Highlights
- Located on retail parade
- Good public parking options
- Largely residential area
Executive Summary
The opportunity to be sold comprises a let investment of the ground floor as a lease was granted in 2024 to Scrivens, and a redevelopment of the first floor which has planning consent to be converted to two 1 bedroomed flats.
Full Planning consent was granted on 14th August 2024 (Ref: PL/23/0356) for the conversion of the whole of the first floor to two 1 bedroom flats.
The whole of the ground floor is let to Scrivens Opticians under a lease which commenced on 29th July 2024 for a term of 10 years.
Full Planning consent was granted on 14th August 2024 (Ref: PL/23/0356) for the conversion of the whole of the first floor to two 1 bedroom flats.
The whole of the ground floor is let to Scrivens Opticians under a lease which commenced on 29th July 2024 for a term of 10 years.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
1,257 SF
Building Class
B
Year Built
1971
Price
$664,549
Price Per SF
$529
Cap Rate
4.95%
NOI
$32,911
Tenancy
Single
Building Height
2 Stories
Building FAR
0.84
Land Acres
0.03 AC
Parking
3 Spaces (2.39 Spaces per 1,000 SF Leased)
Frontage
41 FT on School Road
Amenities
- Security System
- Signage
1 of 1
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Fiona Brownfoot -
Hicks Baker
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70 School Rd
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