Available
Wokingham – Office Building with Parking
6 Millars Brook, Wokingham, Berkshire RG41 2ADFreehold Office Building with Parking Investment
Price
£900,000
Rent P.A.
£66,692
Yield
7.41%
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
4y 9m
Area
4,162 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Fixed rental increase to £70,754 p.a. in Sep 2025 and £74,916 p.a. in Sep 2026
- Comprises two-storey purpose build office building with 12 parking spaces at front
- Property benefits from communal reception, kitchens on each floor and cooling system
- Conveniently located within short walk to local retailers such as Tesco Superstore and Lidl
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
Purpose-built detached office building arranged as a large self-contained unit at ground floor and 5 office units at first floor, with benefit of communal reception and 12 parking spaces. The property benefits from suspended ceilings, raised floors, cooling system, kitchenette, reception and break out area and provides the following accommodation and dimensions:
Ground Floor: 193 sq m (2,081 sq ft)
Open plan office, kitchen, communal lobby, wc
First Floor: 193 sq m (2,081 sq ft)
5 office units, kitchen, communal lobby, wc
Total NIA: 386 sq m (4,162 sq ft)
Ground Floor: 193 sq m (2,081 sq ft)
Open plan office, kitchen, communal lobby, wc
First Floor: 193 sq m (2,081 sq ft)
5 office units, kitchen, communal lobby, wc
Total NIA: 386 sq m (4,162 sq ft)
Tenancy Description
The entire property is at present let to Remedicare Education Services Ltd for a term of 5 Years from 4th September 2024 at a current rent of £66,692* p.a. and the lease contains full repairing and insuring covenants. Fixed rental increase to £70,754 p.a. in Sep 2025 and £74,916 p.a. in Sep 2026 until the remainder of the term. Mutual option to determine in Sep 2027 with min 6 months notice.
* Tenant pays reduced rent of £33,346 p.a. until 3rd July 2025. Vendor will top-up rent so the buyer receives the equivalent of £66,692 p.a. from completion.
* Tenant pays reduced rent of £33,346 p.a. until 3rd July 2025. Vendor will top-up rent so the buyer receives the equivalent of £66,692 p.a. from completion.
Tenancies & Accommodation
Location Description
Wokingham is located immediately to the south of J10 of the M4 motorway, and the A329(M). Bracknell is located 5 miles east and Reading 10 miles west. Wokingham Rail Station is just over half a mile away, offering direct trains to London Waterloo and Reading. The property is conveniently located within short walk to local retailers such as Tesco Superstore, Lidl and Wokingham Town Centre.
