Flat for sale in Kings Road, Reading RG1

An impressive apartment located within a sought after development by Thomas Homes and will appeal to investors seeking a central Reading address. The third floor apartment is ideally positioned within walking distance of the town centre and Royal Berkshire Hospital, providing easy access to the mainline station, Oracle development and Thames Valley Business Park. The apartment is finished in a contemporary style with impressive communal areas and is available with a tenant in situ currently paying £1100pcm, which represents a gross yield of 7.3%.

Investment Yield

The property is offered for sale with a tenant in situ and the current rental value on a furnished basis is £1100 per calendar month which based on the asking price represents a gross rental yield of 7.3%.

Additional Information:

Parking
The property has an allocated parking space in the undercroft car park.

Part A
Lease information.
Years remaining: 989
Service charge: £2000 pa
Ground rent: £250 pa
Ground rent review period: Every 15 years, review date September 2029.

Part B
Property construction – Standard form
Services:
Water – mains
Drainage – mains
Electricity - mains
Heating - electric

Broadband connection available (information obtained from Ofcom):
Ultrafast – Fibre to the premises (FTTP)

Mobile phone coverage
For an indication of specific speeds and supply of broadband and mobile, we recommend potential buyers go to the Ofcom web-site “Broadband and mobile coverage checker”

Part C

The current seller of this property is not a qualified leaseholder, this may present issues for onward protection under the building safety act, for further details please contact the office.

Under the terms of the lease no pets are allowed.

The property is located on the third floor and accessed via a lift.

Flooding

We understand the surface water flood risk summary for the area around the property is considered high however, this information is not specific to this property. For further information please check the website "long term flood risk".