22, 23 And 24 Smallmead Cottages, Electricity Substation And Telecoms Mast, Kirtons Farm Road, Nr Reading, Berkshire RG30
- For sale by auction
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
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.
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.
Local Planning Authority: West Berkshire Council.Tel: Www.Westberks.Gov.Uk
By application to the site.
Hogan Lovells International llp (Ref: Shreya Vaghadia).Tel: Email: [email protected]
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