Commercial property for sale in Gas Works, Gas Works Road, Reading RG1

Key Points

Planning permission has been granted for change of use, conversion, extensions and various associated works to provide 20 x apartments (10x1,9x2 and 1x3 bed)

Located in Reading town centre 0.5 miles from Reading station and overlooking the River Kennet

Reading is a thriving town benefitting from excellent transport links 30 miles west of central London

Offers are invited in excess of £1,000,000, subject to contract

Description

The site currently comprises two red brick Victorian style buildings arranged over one and two storeys. Formerly used for industrial purposes, the buildings were owned by the National Grid for gas pumping and have been vacant for over 20 years.

Location

The property is situated within Reading town centre, a thriving town 30 miles west of central London benefitting from excellent amenities and transport links. The immediate area is surrounded by residential buildings to the east, offices to the west, and the river Kennett to the north. The site benefits from excellent transport links with Reading rail station being located approximately 0.5 miles northwest of the buildings, just over a 10-minute walk. The station provides great connections to London Paddington (23 mins), Bristol (60 mins) and the wider rail network. The Elizabeth line provides further access towards London and neighbouring stations.

Please note all distances and times given are approximate only.

Development

An application was approved in October 2016 by Reading borough planning department under reference 160378 to create a part 4,5 and 6 storey building adjacent to the River Kennet and a 3 storey building fronting Gas Works Road, providing 20 (10x1,9x2 and 1x3 bed) residential units (Class C3).

We understand that developer’s contributions are as follows:

Cil – £199,550

S106 - £53,869

Both buildings have been stripped back to shell condition by contractors in preparation of conversion. We understand that demolition and operational works have been undertaken with the intention of implementing the planning permission. Please ask for a report from ea Town Planning Ltd regarding this point. It is important that all interested parties rely on their own enquiries and satisfy themselves on this point.

Reading Borough Council received a request on 17th January 2022 to consider adding Southern Gas Social Club and Governor House and associated structures, Gas Works Road to Reading Borough’s List of Locally Important Buildings and Structures (the ‘Local List’). The buildings are now understood to be locally listed. Please see legal pack for further information.

Terms

Offers are invited in excess of £1,000,000, subject to contract.

VAT

We understand that the property is elected for VAT.

Viewings

Viewings are strictly by appointment through sole agents Harston&Co.