SACO - Reading

Castle Crescent 2, Reading, RG1 6LZ, UK

Description

JLL are pleased to present the opportunity to purchase 2-12 Castle Crescent & 22-24 Coley Hill, Reading.

The Freehold property has an attractive unit mix, comprising of primarily of 1 and 2-bedroom apartments:
19 x 1-bedroom apartments (av. size 640 sq ft)
7 x 2-bedroom apartments (av. size 672 sq ft)
2 x 2-bedroom houses (av. size 714 sq ft)
The property is let to Edyn Group with a lease expiring in March 2026 at a passing rent of £328,950 per annum (can be earlier on request)
Castle Crescent is situated on a quiet, tree line-conservation area, whilst being walking distance from the city centre, Oracle Shopping Centre and Reading University Campus.

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Investment highlights

Thriving Economy

Reading has been recognized as the fastest-growing UK city both before and after the Covid-19 pandemic. The city's specialization in digital and tech sectors

has led to significant productivity gains, attracting global companies and creating job opportunities. Reading boasts a strong and diverse local economy, with higher average weekly incomes compared to national averages. The city hosts the world-renowned Reading Festival, attracting over 105,000 visitors for the three-day event.

Rental Growth

Reading has experienced significant growth in rental demand, with rents increasing by 14.4% in the past year, outperforming the South East average (8.2%). Letting agents are receiving 17 enquiries for every rental property. Over double what they were receiving in 2019.

University of Reading

University of Reading is a Top 35 UK University. The University of Reading attracts 19,000 new students annually from over 150 countries, ensuring a steady stream of potential tenants and contributing to the city's vibrant atmosphere.