Development Properties: Dukesbridge Chambers, Duke Street, Reading City Centre RG1 3EY

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Dukesbridge Chambers, Duke Street, Reading City Centre RG1 3EY

Guide price £2,500,000 subject to contract - Freehold

  • A prominent office investment centrally located in the heart of Reading Town Centre.
  • Within a 5 minute walk from Reading Railway Station – a future Crossrail Station which offers direct trains into Central London in 25 minutes and under.
  • Dukesbridge Chambers is a self-contained office building arranged over ground and four upper floors.
  • The building measures 13,162 sq ft (GIA) and 9,430 sq ft (NIA).
  • Two floors currently let and producing £89,315 per annum.
  • Two floors vacant with anticipated ERV £103,940 per annum.
  • Freehold.
  • Ground floor commercial unit available for purchase on request.
  • Numerous asset management angles including conversion to residential under Permitted Development Rights.
  • An indicative scheme has been proposed to convert the building into 25 flats.
  • We understand the property is not elected for VAT.
  • Guide Price - £2,500,000 (Two million and five hundred thousand pounds) which reflects a NIY of 3.36% and a NRY of 7.27% assuming purchasers costs of 6.38% and a low capital value of £190 per sq ft.