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46-48 Prospect Street, Caversham, Reading, Berkshire, RG4 8JL
Guide Price* : £450,000 plus
RETAIL AND RESIDENTIAL INVESTMENT
- Double Fronted Retail Unit and Two Residential Units
- Part Vacant, Part Investment Producing £21,120 Per Annum
- Retail Accommodation Approximately 54.82 Sq M (590 Sq Ft) (Vacant)
- 46a Accommodation Approximately 36.31 Sq M (391 Sq Ft) (Occupied)
- 48a Accommodation Approximately 53.45 Sq M (575 Sq Ft) (Occupied)
Description
The property comprises a double fronted two storey unit with basement.
At ground floor, 46 and 48 provide a retail area, office, store room, kitchen and WC.
Above the retail unit, 46a provides a one bedroom flat with shower room, combined living room and kitchen and bedroom. This element is accessed via the rear of Prospect Street.
48a provides a two bedroom mid terrace property and provides a living room and kitchen at ground floor with two bedrooms and bathroom at first floor. This element is accessed via the rear of Prospect Street.
Location
The property is located in central Caversham, a district immediately north of Reading town centre. Prospect Street (B481) is the main arterial route through Caversham, connecting with Church Street to the south and Henley Road to the north. The surrounding area comprises a mix of retail, commercial and residential uses. Nearby occupiers include Tesco Express, Costa Coffee, and a variety of independent businesses. Reading town centre lies approximately 0.5 miles to the south, accessible via Caversham Road (A4155) and the Caversham Bridge. Reading railway station is approximately 0.7 miles to the south, providing frequent services to London Paddington and other regional destinations. The property is situated within the administrative boundary of Reading Borough Council.
Tenure
46 & 46a are held Freehold under Title Number BK71357 and 48 & 48a are held Freehold under Title Number BK98537.
Tenancy
The ground floor is vacant whilst the residential accommodation is occupied under two separate AST Agreements.
46a - Comprises a one bedroom first floor flat, occupied under the terms of an AST from 5 March 2018 for 12 months (holding over) at a rent of £610 per calendar month (£7,320 Per Annum).
48b - Comprises a two bedroom terrace house, occupied under the terms of an AST from 14/02/2024 for 12 months (holding over) at a rent of £1,150 per calendar month (£13,800 Per Annum).
Planning Authority
Reading Borough Council - www.reading.gov.uk
VAT
Refer to the legal documentation
Energy Performance Certificate
46 & 48 (Retail): TBC
46a (Resi Flat): TBC
48a (Resi Flat): E:50
Accommodation
| Address | Tenant | Floor | Use | Sq M | Sq F | Lease Terms | Rent £ pa | Rent Review |
|---|---|---|---|---|---|---|---|---|
| 46-48 Prospect Street | Vacant | Ground Floor | Retail Accommodation | 54.82 | 590 | Vacant | N/A | N/A |
| 46a Prospect Street | Private | First Floor | One Bedroom Apartment | 36.31 | 391 | AST from 05/03/2018 to 04/03/2019 | £7,320 | Holding Over |
| 48a Prospect Street | Private | Ground and Firs Floor | Two Bedroom Terrace | 53.45 | 575 | AST from 14/02/2024 to 13/03/2025 | £13,800 | Holding Over |
| £21,120 |
Contact
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* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
** If you take up this service, Dynamo may pay a referral payment of up to 20% of the procuration fee received by Dynamo from the relevant lender on completion of the mortgage to us. This is not paid by you and has no impact on the service provided. Dynamo is a trading name of Dynamo Mortgages Limited, which is part of the same group of companies as Lambert Smith Hampton, owned by Connells Limited.
If you take up this service you will agree your own separate contract with Dynamo, and Lambert Smith Hampton is not responsible for the accuracy, quality or suitability of any advice, recommendations or services provided to you.
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Legal Documents
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