The Prudential Buildings, Bristol
Wine Street, Bristol, BS1 2PH
NT$486,140,000 | 6,129 m²
Description
JLL are delighted to present 160-163 Friar Street, Reading.
This unique opportunity offers a strategic advantage in the heart of Reading, the capital of the Thames Valley, renowned for its connectivity and business presence. Positioned centrally, the property benefits from superior transport links to Central London and Heathrow, attracting leading occupiers such as Microsoft and Oracle.
The property spans 32,594 sq ft, comprised of five office floors, retail, and leisure spaces, with 11 basement car parks providing a car parking ratio of 1:2,049 sq. ft The rental income is secured on robust covenants with an impressive 90% derived from the UK Government and JD Wetherspoon.
Set amidst Reading's dynamic commercial and cultural centre, the property benefits from the area's rising population and business influx. Nearby amenities include The Oracle Shopping Centre and benefits from being merely minutes from Reading Station.
As the Thames Valley experiences strong growth, this property provides stable cash flow and potential for conversion or refurbishment post-2029, accommodating future demand. This asset not only ensures immediate income security but also offers significant long-term investment potential.
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Attributes
Building area net
3,062 m²
Occupancy
100%
Year built
1960
WAULT
2.1 years
Media
Investment Highlights
- Approximately 90% of income secured with UK Government and JD Wetherspoon.
- Current leases extend to 2029, ensuring medium-term income assurance.
- Prime central Reading location, mere minutes from major rail and retail hubs.
- Potential for alternative uses, with former apartment conversion consent.
- Strategically positioned in the Thames Valley, a leading UK economic region.
- Opportunity for long-term value enhancement through refurbishment or redevelopment.
We are instructed to seek offers in excess of £5,000,000 subject to contract and exclusive of VAT, for our client’s
freehold interest, reflecting a net initial yield of 13.28% allowing for standard purchase costs.
A purchase at this level reflects an attractive capital value of only £153 per sq. ft overall, including the retail and
leisure uses. This is below current replacement cost.
Contact brokers
160 - 163 Friar Street, Reading (0 Properties)
