St. Pauls Court, Reading, Berkshire, RG1 6HF

about this property

A low rise 3 storey development of 56 flats, comprising 41 extended leases and 15 short leases with only 55.5 years remaining on the term.

* Substantial Freehold of 56 Flats and Garages
* 15 short lease flats (55 years remaining)
* 6 garages (2 let, 4 vacant)
* £3,055 pa current income
* Sole Agents

Garages
There are 6 garages that form part of the Freehold which are not sold off:-
Garage 22 - let on licence at £400pa (due for review)
Garage 25 - let on licence at £1,456pa (from 2023)
Garages 23, 28, 29 & 30 - offered with vacant possession
Current Income
Ground Rent for Flats - £1,200pa rising to £1,800 on 01/07/2048
Income for 2 Garages - £1,856pa (due for review)
Potential Income for 4 vacant garages -
TOTAL CURRENT INCOME - £3,0566pa

Notes
The property is subject to an RTM (Right to Manage)
Offers invited subject to Section 5A Landlord and Tenant Act 1987 Notices.
FH Title Register and Copy Leases available on request