This freehold mixed-use property is centrally located in Reading, presenting a noteworthy investment opportunity. The building has already received planning approval to transform the upper levels into two generous 3-bedroom apartments, each approximately 104 sq m (Planning Ref: PL/23/1535, Reading Borough Council). Currently, it benefits from a stable rental income generated by the ground-floor commercial unit, which is leased to Shichida UK, alongside an on-site car park that collectively brings in £27,000 annually.
Investors will appreciate the dual advantage of immediate cash flow and considerable potential for capital appreciation through the planned residential conversion. Additionally, there is potential for further residential development on the first floor pending standard planning permissions.
The property enjoys a prime location with strong public transport links and a variety of local amenities close by. Nearby attractions include Forbury Gardens and essential institutions such as Reading University and the Royal Berkshire Hospital.
This asset not only provides current financial returns but also offers substantial future development possibilities in a thriving area.
