Land
£150,000
22, 23 And 24 Smallmead Cottages, Electricity Substation And Telecoms Mast, Kirtons Farm Road, Nr Reading, Berkshire RG30
  • For sale by auction
Lot 21 - This lot is for sale by auction as lot 21 on Thursday 28th March 2019.

Three Derelict Cottages and Paddock Area

- Electricity Substation
- Telecommunications Mast
- Cottages Vacant
- Mast and Substation subject to Leases
- Total Site Area Approximately 0.9 Hectares (2.4 Acres)
- Possible potential for Development, subject to consents
- Total Current Rent Reserved

£12,000 per annum plus VAT with vacant possession of three derelict cottages and paddock area

By order of prudential assurance company ltd

Tenure
Freehold.

Location
Pingewood is a rural hamlet located around 3.5 miles south-west of Reading town centre. Reading itself is a busy town offering excellent facilities and transport connections and is approximately 40 miles west of central London. The M4 Motorway (Junctions 11 and 12) is within easy reach to the south and rail connections, including Crossrail, run from Reading Station (London Paddington, fastest journey time 28 minutes). The site is close to the ongoing development of Green Park Village, which includes 737 homes, a new station and a primary school. The property is on the south side of Kirtons Farm Road, close to its junction with Smallmead Road.

Description
The property comprises an irregular shaped site extending to approximately 0.9 hectares (2.4 acres). To its eastern extremity, there is a terrace of three derelict Victorian cottages fronting Kirtons Farm Road. There is a small paddock area to the rear of these cottages. On the northern boundary, there is a telecommunications mast. Occupying most of the western half of the site, there is an electricity substation constructed on a hardstanding platform with exclusive driveway access from Kirtons Farm Road. Tenancies
The cottages and paddock area are vacant. The telecommunications mast is subject to a lease in favour of Arqiva Services Ltd for a term of 15 years from 25th November 2015 at a rent of £12,000 per annum plus VAT, subject to review on each third anniversary of the term. The electricity substation is subject to a lease in favour of Southern Electric Power Distribution plc for a term of 99 years from 24th May 2018 at a peppercorn rent. Southern Electric also has the benefit of various easements over other parts of the property for underground cables.

Planning
Local Planning Authority: West Berkshire Council.Tel: Www.Westberks.Gov.Uk

To View
By application to the site.

Seller’s Solicitor

Hogan Lovells International llp (Ref: Shreya Vaghadia).Tel: Email: [email protected]

Guide Prices. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller might be prepared to sell on the date on which the guide price, or range of prices, is published. The reserve price is the minimum price at which the property can be sold. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. All guide prices are quoted 'subject to contract'. The latest published guide price, or range of prices, are displayed on our website. The latest published guide, or range of prices, will normally be at or above any reserve price. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any lot may exceed the previously quoted guide price - as the seller may fix the final reserve price just before bidding commences. If a guide price is listed as 'tba', it means that there is no guide price at present - please do not call our office. The guide price, or range of prices, will be published online immediately it becomes available at: Please check regularly for updates. Lots may be sold or withdrawn prior to auction.