1 bed Flat For Sale £260,000
Hermitage, Chatham Street, Reading

An impressive contemporary styled apartment located on the fourth floor of this sought after town centre development. The apartment is a short walk from the mainline station and shops and restaurants of the Oracle development and is offered for sale with no onward chain. This well planned one bedroom apartment benefits from a residents lift, well-tended communal areas and is one of the rarely available apartments with an allocated parking space in the undercroft car park. Property could be sold with tenants in situ with a possible gross yield of 5.7%

Communal Garden - The communal gardens are paved and have a number of benches for use by the residents.

Under-Croft Parking - The apartment has an allocated parking space in the undercroft car park.

Agents Note - The work of the development is ongoing and there is scaffolding erected(shown in the last image). The front image was taken prior to the work commencing.
We are informed that the work on the development is scheduled to be completed by 31st December and the EWS1 certificate will be issued once the final inspection has taken place.
The property is currently rented on an assured shorthold tenancy with a monthly rental of £1100 on a furnished basis.

Lease Information - Years remaining: 235 years
Service charge: £801.34 (paid every 6 months, last payment Jan 2023)
Ground rent: £350 PA
Ground rent review period: Every 25 years, next review period 2032 in line with RPI

LEASE NOTE: Lease and service charge details are provided as a guide and are based on information supplied by the seller

Tenancy Information - The property is currently let on an assured shorthold tenancy for £1200 per calendar month, we believe the current rental value for a furnished let would now be £1250 per calendar month which based on the asking price represents a possible gross rental yield of 5.7%.