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Pacific House Reading, RG2 0TD

57086 sq ft Office

Sale

Sep-19: Montagu Evans completed the disposal of this high quality Thames Valley office on behalf of Clearbell for £15.775m / 7.50%.

Key points

  • 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.
  • Freehold.
  • 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.

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