This Grade II listed property features a unique arrangement across four levels: basement, ground, and three upper floors. Currently, the ground floor is home to a well-established pie shop and restaurant, providing a separate entrance that leads to the upper floors. Notably, planning permission has been secured for transforming these upper levels into four residential flats, enhancing its investment appeal.
The building showcases numerous original features, merging historic charm with significant commercial potential. As Reading continues to evolve as a vibrant urban hub in the Thames Valley, this property's location on Castle Street offers various advantages. It lies within walking distance of The Oracle shopping centre and Reading Station, surrounded by cultural attractions such as The Hexagon and Minster Church. This prime central position benefits from substantial foot traffic and robust transport connections, making it an attractive spot for both business and residential development.
Internally, the restaurant accommodates around 100 diners through a combination of open-plan areas and cozy alcoves, fostering a welcoming environment. The basement includes additional dining space along with practical storage solutions. The ground floor serves as an active deli and takeaway counter, known for an enticing selection of pies and other delicacies. Meanwhile, the upper floors are currently utilized for office purposes but hold considerable redevelopment promise given their approved conversion into residential units.
Externally, the property features a classic shopfront facing Castle Street, complemented by a side entrance that provides access to the upper floors. While there are no outdoor seating areas or gardens available, its central locale guarantees excellent visibility and easy access for patrons. Public parking options nearby further support day-to-day operations.
Though there is no dedicated owner’s accommodation at present, the approved plans include provisions for a self-contained apartment at the back of the ground floor—a versatile option that could be adapted for owner-occupier living or rented out independently.
This property presents an exceptional opportunity to acquire one of Reading's iconic culinary establishments. Established in 1978 with a loyal customer base and strong reputation, it generates impressive annual revenues alongside healthy profit margins. A new owner could capitalize on existing success by expanding or modernizing operations or consider leveraging its redevelopment potential with approval already in place for residential use.
With skilled staffing including five full-time members alongside two active owners managing daily operations smoothly, this venture is well positioned for continued success. Furthermore, strategic adjustments could unlock even greater financial performance moving forward.
In summary, this property not only stands as a thriving business but also offers substantial development potential with its approved plans for residential apartments—ideal for developers or restaurateurs
