Office to let

Key Features

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• Rarely available
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• Three storey office with ground floor storage unit
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• End of terrace
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• 8 allocated parking spaces
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Location

The premises are situated on Milford Road which is accessed from Richfield Avenue via Tessa Road and Cremyll Road located approximately half-a-mile to the northwest of Reading town centre.
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Description

The property comprises an end of terrace three storey office building of traditional brick construction. The accommodation provides largely open plan office accommodation with a store / warehouse area to the rear of the ground floor with 3.5m eaves and electric roller shutter door. Each of the floors are self-contained with their own boiler and utility supplies and are accessed via a communal ground floor entrance with entry phone system. Externally the property benefits from 8 allocated car parking spaces within a large concrete surfaced car park to the side which can be accessed directly from Milford & Cremyll Road.

Specifications

- Shower installation
- LED and Cat 2 lighting
- CCTV and Alarm system
- Gas fired central heating
- Air conditioning on all floors
- Kitchenettes on all floors
- WCs on all floors
- Telephone entry system
- 8 allocated parking spaces

Available area

We understand the Net Internal Area (NIA) is as follows:

Lease Summary

This property can be offered in a number of ways to offer flexibility and to suit potential buyers/occupants. The property is currently occupied by the present owner (first & second floors) with a separate ground floor tenant; R & R Thompson Services Ltd. The ground floor is let on an FRI basis for a term of 3 years expiring 24th September 2025 with belief that a new lease with this tenant will be possible to agree thereafter, should it be desired. The Vendor will either fully vacate upon completion of a sale or agree a new lease on the second floor only, subject to the purchaser’s / new tenant’s preference and subsequent negotiations.

Terms

The Freehold interest is available for sale at a price of £525,000. The intention is to sell the property as a Transfer of Going Concern (TOGC).

Alternatively, the property is available to lease as a whole or on a floor-by-floor basis on terms to be agreed at a quoting rent of £15,000 per floor, per annum, exclusive.

Legal Costs / VAT

Each party to bear their own legal costs.

Prices are quoted exclusive of VAT, but we understand the property is not currently elected for VAT.

Business Rates

The Rateable Value is currently assessed by floor as follows:

Ground Floor - £11,750
First Floor - £10,750
Second Floor - £9,500

Anti-Money Laundering Regulations

To comply with Anti Money Laundering regulations, Haslams Surveyors LLP undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.

Viewing & Further Information

Please contact the sole agents for further information or an appointment to view.