Prime Freehold Investment Property in Reading – 3-Story Salon with £22,500 Annual Income
Reading, Berkshire
- Status
FOR SALE
- Date Submitted:
05/04/23
- Advert ID
511257
- Reference
DR1540/44 / Rightbiz
- Call Agent:
- Asking Price: £410,000
- Turnover: N/A
- Net Profit: On request
Business Details
Freehold Investment Property 2 Gun Street, Reading, Berks.
For Sale
Long Leasehold (999 Years) Commercial Investment Property on Three Floors
Business Unaffected
2 Gun Street,
Reading, Berkshire,
RG1 2JR
Location
The property is situated in a busy, well established part of Reading occupying a prominent position on Gun Street and within close proximity to The Oracle Shopping Centre and a short walk to Broad Street and Reading Railway Station.
Property
The Three Storey Terraced 999 Year Long Leasehold Property (total size circa 1,350sq.ft.) comprises:-
Ground Floor:- Hairdressing Salon (approx. 25’8” x 16’10” - 450sq.ft.). Fire exit and bin area at rear.
First Floor:- Salon (approx. 28’7” x 9’ - 258sq.ft.). Beauty / Nail (approx. 13’2” x 8’1” - 107sq.ft.). Beauty Room (approx. 12’2” x 7’8” - 96sq.ft.).
Second Floor:- Beauty Room One (approx. 13’3” x 8’3” - 108sq.ft.). Beauty Room Two (approx. 11.11” x 8’6” - 100sq.ft.). Kitchenette (approx. 11’9 x 9’3” - 108sq.ft.). Utility Cupboard. Water Heater Cupboard. Boiler. Two toilets.
Long Leasehold
The property is held on a 999 year term commencing 16th November 1993.
Rental Income
The property is sub-let as a whole and trades as an Hair & Beauty Salon. The sub-lease (within the Act) is for a term of 15 years (commencement date 27th June 2012) and is subject to 5 year reviews - last review was due 27th June 2022 (not implemented). Current rent £22,500 per annum, i.e. £1,875 per calendar month.
Notes
Rateable Value:- £22,750 - tenant is liable for rates
EPC Rating:- D-81 (expires 8th March 2031).
Viewing
Strictly by prior arrangement with Messrs A H Lansley - 0118 959 0271.
Price:- £410,000 Long Leasehold
Contact Agent
Energy Performance Certificate (EPC)
Listing Statistics
Contact the seller for more details, or book a viewing
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Contact seller
Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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