FOR SALE
07/10/22
510
DR.1552 / Rightbiz
For Sale - Freehold Commercial Mixed-Use Investment Property - Ground Floor Shop with One Bed Flat Above
25 School Road, Tilehurst, Reading, Berks
Location
The property is ideally located on a busy road in a local centre in the village of Tilehurst, a well sought trading location.
Premises
Ground Floor:- Single Fronted A1 Commercial Unit. Workshop / Office. Kitchenette / Storage. Cloakroom.
First Floor:- Flat accessed through the shop. Kitchen. Living Room. Bedroom. Shower Room. Currently sub-let by tenant.
Outside
Two Storage Units. One parking space. Bin area. Rear access.
Permitted Use
Class A1 / E Class (current operator - shoe repairs, key cutting, engraving, etc.).
EPC Rating
D-96 - Shop and Flat
Rateable Value
£6,500
Rental Income
The property (Shop and Flat) is let on a Full Repairing & Insuring Lease for a term of 12 years ending 31st August 2025 at a current rent £14,800 per annum (£1,233.33 per calendar month). Rent deposit held by Landlord - £6,300. Last review date 1st September 2021 (not implemented).
Price:- £235,000 Freehold
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.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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.
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.
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.'.
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.
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