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Prospect Mews, Prospect Street, Reading

South East

£115,000
Listed on 11/01/2025

Property Details

Bedrooms
N/A
Type
Detached house
Area
398 sqft

Description

This single-story freehold office premises in West Reading presents a compelling opportunity for those seeking to invest in a property with significant renovation and conversion potential. Conveniently located just a short stroll from Reading Town Centre, the building enjoys a prime position that is enhanced by two dedicated parking spaces. Currently utilized for commercial purposes, the property boasts versatile space that can be adapted to meet contemporary living needs. With appropriate planning permission, it holds the potential to be transformed into a stylish one-bedroom residence, catering to the growing demand for housing in this desirable area. The location itself is a notable asset, providing easy access to major transport links and local amenities. As part of the sought-after Prospect Mews neighborhood, this property combines accessibility with the potential for future value appreciation, making it an enticing option for investors looking to tap into the thriving real estate market in Reading. In summary, this offering not only features valuable commercial space but also presents an exciting canvas for creative renovation or redevelopment, appealing to both investors and developers alike.

Investment Analysis

(RG1 area)

Below Market Value

This property is priced -29.5% below area average per sq ft

-29.5%
Potential saving
This Property
£289/sq ft
Area Average
£410/sq ft
Avg Rent (weekly)
£377
Avg Yield
6.9%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£25,000 - £40,000
Target Value
£179,367
10% above area average per sq ft
Potential ROI
+15.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
46
Average per month
Market Turnover
13%
Properties sold annually

Local Market Trend (RG1)

Area prices are rising by +5.9% over the last 12 months
3 year growth: 0.3%
5 year growth: 14.4%
Investment Disclaimer: Analysis based on RG1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Prospect Mews, Prospect Street, Reading
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£421
Based on a loan of £86,250 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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