6 Week completion
Located opposite this attractive triangular shaped retail pitch, just a few hundred yards away from Broad Street which hosts a variety of major national retailers including John Lewis, Marks & Spencer and The Oracle Shopping Centre.
Reading is located some 40 miles west of Central London and is the major commercial and administrative centre for the prosperous Thames Valley with easy access to the M4 (Junctions 10 & 11).
Forming part of a modern building comprising a Ground Floor Shop with use of a rear shared yard for unloading.
Ground Floor Shop
Gross Frontage 24'1
Internal Width 23'1"
widening at rear to 28'8"
Shop & Built Depth 41'10"
VAT is applicable to this Lot
Leasehold for a term of 999 years from 17th March 2015 at a Peppercorn ground rent.
The property is let on a full repairing and insuring lease to Greggs plc (having over 1,700 branches) (T/O for Y/E 02/01/16 £835m, Pre-Tax Profit £73m and Shareholders' Funds £272m) for a term of 10 years from 30th June 2016 (see Note) at a current rent of £22,500 per annum exclusive.
Rent Review and Tenant's Break 2021
Note: Greggs were previously trading from the adjacent smaller unit (No. 39) prior to June 2016.