Landmark building in the heart of Reading

Rare opportunity to acquire a landmark building in the heart of Reading, offering secure long income and a valuable residual underpin. A prominent 5-storey office building extending to 89,059 sq ft with an attractive outlook onto the River Thames. Located just 300 metres from Reading Train Station serviced by Europe’s largest infrastructure project, The Elizabeth Line. Single-let to the investment grade covenant until 13th July 2032, providing an unexpired lease of 9.7 years term certain. Tenant originally built their headquarters building and have been in occupation for over 22 years. Building is integral to their operations having recently consolidated into the building from c.53,000 sq ft of other offices in Reading. The FRI lease has a passing rent of £3,210,971 per annum reflecting a rent of £36.05 psf overall. Fixed uplift in April 2027 to £3,722,395 per annum, providing guaranteed performance over a 5-year hold through c. 115 bps of reversion. Offering stability and security of returns against a volatile macroeconomic backdrop. The building benefits from 161 car parking spaces, reflecting an excellent town centre car parking ratio of 1:553 psf. Reading is the capital of the Thames Valley and the leading office market in the region, with rents forecast to outperform all of the Big 6 cities.