Queens Rd | Reading RG1 4QE
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Queens Rd
Reading RG1 4QE
Queens Wharf · Office Property For Sale
Investment Highlights
- Prominent high street location
- Close proximity to local amenities and shops
- Good transport links
- Good road links with the M4
Executive Summary
Sale of ground floor office held on a 999 year long leasehold from 1st January 2001. The office totals 6,077 sq.ft and is currently let to Altour International Limited (D&B rated 2A) on a 5 year effective FRI lease without break from 1st March 2021 expiring on 28th February 2026. The current rent being achieved is £110,000 per annum exclusive (£18.10 psf.) There is an upward only rent review at the 3rd anniversary of the term (March 2024). Offers for this property are sought in excess of £1,450,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net yield of 7.15% assuming standard purchaser's costs of 6.08%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Property Subtype
Office/Residential
Building Size
6,077 SF
Building Class
B
Year Built
2003
Price
$1,830,045
Price Per SF
$301
Cap Rate
7.15%
NOI
$130,848
Percent Leased
100%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
760 SF
Slab To Slab
10’
Amenities
- Bus Line
- Convenience Store
- Raised Floor
- Signage
- Waterfront
- Accent Lighting
- Air Conditioning
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