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London Road, Reading 4 bed detached house for sale
London Road, Reading
£850,000
London Road, Reading
£850,000
Our Summary
- Overage Provisions - The vendors recognise that the property has development potential
- Save for any development in line with the restrictive covenants outlined above and the exceptions noted below, the vendors consent will be needed for any change of use or redevelopment of part or all of the site
- Any uplift in value for each and every planning/development event will be shared 50-50 between the buyer and the Board of Finance, less the costs of securing the uplift
- The Overage agreement provisions will span 80 yearsOverage is triggered if the land is sold to a third party with planning consent granted but not implemented; or on the commencement of works to implement the permission
- - Overage only applies where planning permission is secured for more than one dwelling [or for example a care home/commercial scheme]
- Scope to upgrade
Description
This 2500 square foot former Vicarage, set back from the road, offers a prime location with easy access to the town center, Reading University, and Royal Berks Hospital. The property, with its sizable driveway and two attached garages, features a partially walled rear garden extending to over 170 feet, including a paved patio area and a lawned garden with a brick-built outbuilding for storage. The property has great flexibility to upgrade and update throughout, and the vendors, the Oxford Diocesan Board of Finance, are willing to allow maximum flexibility for refurbishment and extension or replacement with a new single dwelling house, subject to certain restrictive covenants and overage provisions.