LOT 102 - Reading

11 Friar Street, Reading, Berkshire, RG1 1DB

Attractive Freehold Betting Office & Leisure Investment with Development Consent

Sold After

Key Features
  • Let to Coral until 2023 & Time Trap Escape Rooms until 2022
  • Includes planning consent for the creation of 4 flats
  • 3 min walk from Reading Train Station (Elizabeth Line / Crossrail)
  • Accommodation totalling 511.68 sq m (5,508 sq ft)
  • Located in established leisure and retail pitch in town centre
  • VAT is applicable
  • Six Week Completion Available

Total Current Rent Reserved
£64,833 p.a.
Tenure

Freehold


Location
  • Reading is the major commercial and administrative centre for the prosperous Thames Valley situated in Berkshire on the River Thames, 25 miles south of Oxford and 40 miles west of London
  • Commercial links are excellent, with junctions 10, 11 and 12 of the M4 Motorway all nearby, providing acces to the M25 and wider motorway network. The A33 runs north from the M4 providing access to the town centre.
  • Reading Rail Station is located within 320metres of the property and provides frequent rail services to London Paddington (fastest journey time 23 minutes)
  • The Elizabeth Line is expected to be operational from Reading Station by Autumn 2022 providing direct links to Central London
  • The property, which is Grade II listed is situated on the north side of Friar Street at it's junction with Wiston Terrace and opposite the pedestrianised Cross Street, linking to Broad Street, the toen prime retail through
  • Occupiers close by include: Walkabout, Yates, Wild Lime Bar, O'Neills, Pitcher & Piano, Betfred, Marks & Spencer & Virgin Money in an established leisure and retail location
  • The Oracle Shopping Centre is located less than 0.2 miles to the south with a wide variety of occupiers including John Lewis, Apple, H&M, House of Fraser, Reiss, JD Sports & Zara amongst many others
Additional Information
  • The first, second and third floors are self-contained and accessed via an entrance on Wiston Terrace
Planning
The property benefits from planning consent and listed building consent dated 23.10.2019 (Planning Refs: 191075 & 191076) for the change of use of upper floors from escape room games premises to residential use in the form of 4 No. Individual apartments. Partial Demolition, Internal reconfiguration and refurbishment of the existing fabric and creation of new two storey entrance lobby and stairwell.
All enquiries should be made with the local authority: Reading Borough Council
Contact Number: 0118 937 3787
Website: www.reading.gov.uk
VAT

VAT is applicable to this lot.

Additional Charges
  • Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.
Contacts
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Important notice - Pre-registration approval to bid, guide prices, reserves, additional charges and other matters

Pre-registration approval to bid Allsop now require all bidders who wish to bid at our Auctions to register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given. Please use the links on our website to pre-register. Following approval to bid, the buyer named in your registration cannot be changed without consent (for which a charge might be made). Guide Prices 1. A guide price (to include a range of prices), is not an indication of the anticipated eventual selling price or a valuation; it is an indication of the minimum price ( “the Reserve” ) at which (or range of prices within which) the seller might be prepared to sell. The eventual sale price can and frequently does, exceed the guide price. 2. Where a range is given, the Reserve will sit within that range and will not exceed the top end of the range. Where a single figure Guide Price is given, the Reserve will be within 10%, upwards or downwards, of that figure. 3. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you should check the website regularly for updates and on the day of the auction. 4. All guide prices are quoted "subject to contract". 5. Please note the guide price for the Lot does not include: - any Buyers' Fee charged by the auctioneers; - VAT on the sale price; - SDLT or any other Government taxes; - additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers. 6. If a guide price is listed as "TBA", it means no guide price has been set at present. Please do not call our office about this - the guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates and on the day of the auction. Reserve Prices 7. The reserve price is the minimum price at which the Lot can be sold. 8. Whilst every effort is made to ensure that the advertised guide prices are up-to-date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before the Lot is offered for sale and you should check the website regularly for updates and on the day of the auction. Buyers' fees, Seller's fees and additional charges 9. For each Lot, a Buyers' Fee is payable on the fall of the hammer to Allsop LLP as follows: Residential Auctions - Lots sold for £10,000 or more: Buyers' Fee of £1,250 inclusive of VAT - Lots sold for less than £10,000: Buyers' Fee of £250 inclusive of VAT Commercial Auctions - All Lots: Buyers Fee £1,000 inclusive of VAT 10. Additional charges and fees might be charged by the seller and/or other third parties . You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts. 11. VAT may be chargeable in addition to the sale price for the Lot. The Lot Particulars and/or the Special Conditions of Sale will indicate whether VAT applies. Other Matters 12. Please note that Lots may be sold or withdrawn at any time prior to auction. 13. Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer's Fee may each be varied from the standard amounts quoted. Please refer to the addendum, the Particulars and/or the conditions of sale. 14. Street trader plans are reproduced with the consent of Experian Goad Limited. Experian Goad Digital Plans include mapping data licensed from Ordnance Survey with the permission of the Controller of Her Majesty's Stationery Office. © Crown Copyright and Experian Copyright. All rights reserved. Licence number PU 100017316. Location plans are reproduced from the Ordnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty's Stationery Office, © Crown copyright and Database Rights 2018 OS 100060020 15. The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not to be taken as drawn to scale and any arrows on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries or which direction the lot is facing. The Auctioneers do not warrant or represent that any plans or photographs show the up to date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.