- Reading is the commercial capital of the Thames Valley and is situated approximately 37 miles west of Central London.
- Excellent transport links with Reading station being the 2nd busiest in the UK outside of London providing direct services to Central London in
22 minutes.
- Large affluent catchment with a 15-minute drive time population of 276,589 people and 37.6% of the population being in social grade AB.
- Site area of 1.42 acres (0.57 hectares) providing a low site coverage of 24.25%.
- Purpose-built modern standalone foodstore extending to a GIA of 15,066 sq ft (1,399.7 sq m) and 92 car parking spaces.
- Let on a FRI lease to Marks & Spencer Simply Foods Limited until 1st October 2033 providing 9.00 years unexpired.
- Current passing rent is £576,038 pa reflecting £38.23 psf.
- 5 yearly fixed rent reviews with the next occurring on the 2nd October 2028 where the rent increases to £651,734 pa.
- Freehold.
Offers are invited in excess of £8,650,000 subject to contract and exclusive of VAT.
A purchase at this level would reflect a Net Initial Yield of 6.24%, reversionary in October 2028 to 7.06%, after allowing for purchaser’s costs of 6.68%.
