75A & 75B Loverock Road, Reading RG30 1DZ
Industrial Investment Opportunity
• Modern reversionary industrial investment located in Reading, the commercial capital of the Thames Valley.
• Situated in the popular and established Portman Road industrial area, less than one mile west of the town centre.
• Ongoing infrastructure projects will benefit the accessibility of the immediate area and the town as a whole.
• Well let to Parsons Peebles with an unbroken eight years remaining on the leases.
• Total rental income of £139,840 pa, reflecting a low average passing rent of just £7.98 psf offering good prospects for rental growth with Reading averaging 7% pa growth in the year to June 2018.
• We are instructed to seek offers in excess of £2,000,000 (Two Million Pounds), subject to contract and exclusive of VAT, for our client’s freehold interest. A purchase at this level reflects a net initial yield of 6.58% and an estimated reversionary yield of 7.42% after purchaser’s costs of 6.28%.