This property is positioned in a sizable residential area to the south of Reading town center, approximately 1.14 miles away. The site spans 0.61 acres and presents a noteworthy opportunity for both renovation and investment.
The current configuration includes six retail units, complemented by six residential units (two- and three-bedroom) located above. Additionally, there are six lock-up garages at the rear, further enhancing the site's versatility. While two of the retail spaces are currently vacant, the others are occupied under protected leases with relatively low rental rates. The total annual rental income is currently £89,100, though there is significant potential to increase this through effective asset management and lease renewals.
Investors may find multiple avenues to enhance the property’s value. There exists an opportunity to extend the first floor over the rear section of Unit 79, which could allow for additional residential accommodation by converting a large storeroom into living space. Furthermore, splitting Unit 79 into two separate retail units could yield a total of seven commercial spaces while increasing residential capacity to between six and nine units, subject to planning permissions.
Additionally, there is potential for redevelopment throughout the entire site; transforming the garages into residential units or small workshops could be viable options. With careful planning
