14 Bed Flat For Sale Westcote Road, Reading, RG30

Investment Consideration:\r
Gross Initial Yield: 4.77%\r
Rental Income: £114,540 p.a.\r
VAT is NOT applicable to this property\r
Comprises residential block of 8 apartments\r
Total GIA: 487 sq m (5,242 sq ft)\r
Each apartment benefits from 1 parking space\r
New-build in 2019 to a high standard\r
Includes a 10-year building warranty\r
Benefits from secure gated car park and rear garden\r
Situated on a quiet residential street, within 0.6 miles from Reading West train station and a large Tesco Extra, while Reading town centre is only 5 min drive away.\r
Reading train station provides direct services to London Paddington, with journey taking approx. 35 minutes.\r
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Property Description:\r
Comprises three-storey purpose build residential block of 8 apartments (6 x 2-Bed and 2 x 1-Bed) on a plot of 0.24 acres. The property benefits from gated access and 8 car parking spaces at front and a garden at rear, providing the following accommodation and dimensions:\r
Ground Floor:\r
Apartment 1 - 68 sq m (732 sq ft)\r
2 Bedrooms, kitchen/living room, 2 bathrooms\r
Apartment 2 - 68 sq m (732 sq ft)\r
2 Bedrooms, kitchen/living room, 2 bathrooms\r
Apartment 3 - 59 sq m (635 sq ft)\r
2 Bedrooms, kitchen/living room, 2 bathrooms\r
First Floor:\r
Apartment 4 - 68 sq m (732 sq ft)\r
2 Bedrooms, kitchen/living room, 2 bathrooms\r
Apartment 5 - 68 sq m (732 sq ft)\r
2 Bedrooms, kitchen/living room, 2 bathrooms\r
Apartment 6 - 58 sq m (624 sq ft)\r
2 Bedrooms, kitchen/living room, 2 bathrooms\r
Second Floor:\r
Apartment 7 - 50 sq m (538 sq ft)\r
1 Bedroom, kitchen/living room, bathroom\r
Apartment 8 - 48 sq m (517 sq ft)\r
1 Bedroom, kitchen/living room, bathroom\r
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Finishing Touches\r
Contemporary branded kitchens\r
Bosch appliances and quartz worktops\r
Branded electrical fittings to the kitchen/living/dining room, hall and bedrooms\r
Integrated fridge freezer and dishwasher\r
TV points to living area and bedrooms\r
Ceramic bathroom wall tiles\r
Steel bath with matching panel\r
Heated towel rail and shaver point\r
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Tenancy:\r
Apartment 1 is at present let on AST to an Individual for a term of 12 months from 12th March 2021 at a current rent of £15,000 p.a. Deposit held of £1,442.32.\r
Apartment 2 is at present let on AST to an Individual for a term of 12 months from 10th July 2020 at a current rent of £13,800 p.a. Deposit held of £1,326.92.\r
Apartment 3 is at present let on AST to an Individual for a term of 12 months from 20th July 2022 at a current rent of £15,540 p.a. Deposit held of £1,494.23.\r
Apartment 4 is at present let on AST to an Individual for a term of 12 months from 5th October 2020 at a current rent of £13,200 p.a. Deposit held of £1,269.23.\r
Apartment 5 is at present let on AST to an Individual for a term of 12 months from 21st April 2023 at a current rent of £17,400 p.a. Deposit held of £1,673.07.\r
Apartment 6 is at present let on AST to an Individual for a term of 12 months from 24th June 2021 at a current rent of £13,200 p.a. Deposit held of £1,269.23.\r
Apartment 7 is at present let on AST to an Individual for a term of 12 months from 16th October 2021 at a current rent of £12,600 p.a. Deposit held of £1,211.54.\r
Apartment 8 is at present let on AST to an Individual for a term of 12 months from 23rd August 2019 at a current rent of £13,800 p.a. Deposit held of £1,326.92.\r
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Location:\r
With excellent rail and motorway links to London and Heathrow Airport, Reading has attracted many international companies, particularly in the technology sector, which continues to expand. The highly rated University of Reading is close to the city centre and some of the best grammar schools and private school in the country are nearby. It is also the home of Reading (Championship League) Football Club. A short distance from Westcote House you will discover, in the centre of Reading, the superb canal side Oracle Shopping Centre, the Vue Cinema and many top restaurants and entertainment venues. The River Thames flows the fringes of the centre with riverside parks and boating activities. Within the locality the historic towns of Oxford, Windsor and Henley on Thames are attractive destinations within easy reach. The property is situated on a quiet residential street, within 0.6 miles from Reading West train station and a large Tesco Extra, while Reading town centre is only 5 min drive away.