Pacific House Reading, RG2 0TD
57086 sq ft Office
Freehold Property to buy in Reading
Sep-19: Montagu Evans completed the disposal of this high quality Thames Valley office on behalf of Clearbell for £15.775m / 7.50%.
- A high quality office building located to the south of Reading town centre within 500m of Junction 11 of the M4.
- Reading is the capital of the Thames Valley and home to the world's largest global brands, including Microsoft, Oracle, Cisco, and PepsiCo.
- Reading has superb multi-modal transport links, and over the next year will benefit from a new railway station at Green Park, and the arrival of Crossrail.
- Pacific House is a refurbished Grade A office building totalling 59,340 sq ft, configured around an impressive full-height, glazed atrium.
- Exceptional parking ratio of approximately 1:220 sq ft.
- The Property is in close proximity to a range of amenities, including Reading Gateway opposite which provides a Costa Coffee, Premier Inn and Beefeater.
- Multi-let to 7 tenants with a WAULT of 7.45 years to expiry and 4.15 years to break.
- 95% of the income is from businesses rated as ‘Very Low Risk’ by Experian, with the remainder rated ‘Low Risk’.
- Excellent recent letting history with approximately 52% of the building having been let in the last 12 months.
- Annual rental income if £1,271,092 per annum, reflecting an average rent of £22.26 psf, a 40% discount to prime rents.
- Strong reversionary prospects.