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Lot 22 Click here for addendum

Gross Yield 10%
6 Week Completion

Situation

Occupying a prominent trading position in this retail parade, adjacent to Coral, amongst a host of local traders and less than 350 yards from Lidl, McDonald's and Reading West Rail Station.
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).

Property

A mid terraced building comprising a Ground Floor Restaurant with separate rear access to a Self-Contained Flat at first floor level. In addition, there are 2 Storage Buildings at the rear.

Accommodation

Ground Floor Restaurant
Gross Frontage 16'11"
Internal Width 14'8"
Restaurant Depth 25'1"
Built Depth 50'11"
Kitchen Area Approx 250 sq ft
3 WCs
First Floor Flat
2 Bedrooms, Living Room, Kitchen, Bathroom/WC
(GIA Approx. 535 sq ft)
Plus 2 Rear Storage Buildings

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Whiskey 88 Ltd t/a Oishi Japanese Restaurant for a term of 25 years from 10th March 2010 at a current rent of £12,000 per annum exclusive.

Rent Reviews 2020 and 5 yearly.

Note: £3,000 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

314 Oxford Road, Reading, Berkshire RG30 1AD