The site is located north of Oxford Road and south of Curzon Street, and was formerly part of Battle Hospital until its closure in 2005.
The site is now cleared awaiting redevelopment. We estimate the site area to be approximately 0.315 acres (0.127 hectares).
Location
Reading is one of the key commercial centres in the Thames Valley, located approximately 13 miles south west of Maidenhead, 11 miles north east of Bracknell, and 40 miles west of London.
Situated approximately 1 mile to the west of Reading town centre, the area boasts a variety of retail facilities, including The Oracle Shopping Centre and Broad Street, as well as being home to major technology companies such as Huawei, Cisco, Ericsson, and Intel.
The property is positioned in West Reading, north of Oxford Road and south of Curzon Street, with Oxford Road offering a retail parade along with direct access to the town centre to the east. Additionally, a Tesco Extra supermarket is located immediately adjacent to the site, enhancing its convenience and appeal.
The site is just 0.3 miles from Reading West railway station, which offers direct services to London Paddington in approximately 30 minutes. The M4 motorway is located approximately 4 miles away providing access to Bristol in the west and London to the east, as well as adjoining the M25 approximately 26 miles to the east.
Accommodation
Site extending to 0.315 acres (0.127 hectares)
Terms
Planning - The property will be sold with planning consent for a mixed-use development, which includes two commercial units on the ground floor (1,695 sq.ft), 26 residential units (20,442 sq. ft) above, and associated landscaping, car, and cycle parking.
The original planning application (Ref 220776/FUL) included an allocation of 30% affordable housing. A subsequent and successful appeal (APP/E0345/W/22/3310834) was consented on 8th November 2023, removing the affordable allocation.
We understand that a Community Infrastructure Levy (CIL) of £469,887.11 is payable to Reading Borough Council. A breakdown of this levy is set out in the CIL Liability Notice within the data room.
The S106 Agreement suggests a payment of £72,945.25 is payable to Reading Borough Council. A copy of this document can be found within the data room.
Asking Price - Offers invited for the Freehold interest.
Sale by Receivers - The property is offered for sale on behalf of the Joint LPA Receivers (‘the Receivers’). The Receivers offer no title or collateral warranties associated with this property or transaction. The Receivers act without personal liability.
Method of Sale - The Property will be sold by way of informal tender (unless sold prior).
Offers are sought for the Freehold interest.
Tenure - Held freehold under title number BK429154
Legal Costs - Each party is to be responsible for their own legal costs incurred throughout the transaction.
VAT - TBC
Anti-Money Laundering - To comply with our legal responsibilities for Anti-Money Laundering, it will be necessary for the successful bidder to provide information necessary to complete these checks before the deal is exchanged.
Information required will include:
1) Corporate structure and ownership details.
2) Identification and verification of ultimate beneficial owners.
3)Satisfactory proof of the source of funds for the Buyers/funders/lessee.
Specification
- Freehold development site extending to 0.315 acres (0.127 hectares)
- Consent granted for 26 residential units and 2 commercial units totalling 20,442 sq.ft with car and cycle parking
- 5x one bedroom, 13x two bedroom, 8x three bedrooms
- Adjacent to a large Tesco superstore on the outskirts of Reading town centre
- Within 2 miles or 10 minute drive of Reading Railway Station which provides both mainline trains and Elizabeth Line services into central London
- Reading benefits from good access to the wider UK national motorway network via the M4, M25 and M40.