17-27 Queen Victoria Street, ReadingPosted on January 1, 2015
Clay Street are delighted to complete the acquisition of 17 – 27 Queens Victoria Street for a private investor client.
The asset comprises a parade 5 retail units situated in a strong edge of prime trading position on Queen Victoria Street, Reading.
Queens Victoria Street links the core retail area to the mainline railway station, attracts a huge amount of footfall yet still offers a substantial in rents to the adjacent prime pitch on Broad Street.
At the time of purchase our client acquired a long leasehold carve out of the ground floor at a price representing a net initial yield of 7.0%. we have since managed to secure the acquisition of the freehold and upper parts which provide medium term potential for change of use.