27 King’s Road, Reading



27 King’s Road, Reading

  • Price£8,100,000
  • Income£410,657.50
  • Yield4.75%
  • SectorOffice
  • StatusAvailable

Prime City Centre Office Investment Securely Let With In Excess Of 9.5 Years To A Major FTSE 250


  • Reading is the largest commercial centre in the south east outside of Central London, boasting global & European HQs of over 200 Fortune 500 companies.
  • Situated on the north side of Kings Road in Reading city centre, just 7 minutes’ walk from Reading railway station and the new Crossrail terminal.
  • A modern self-contained office building of 14,933 sq ft (1,387.32 sq m), and recently undergone a full CAT A refurbishment costing approximately £1.5M.
  • Freehold.
  • Let in its entirety to Paymaster (1836) Limited with a guarantee from Equiniti Group PLC (a FTSE 250 company) for a term of 12 years expiring in May 2031.
  • In excess of 9.5 years unexpired. .
  • Current income of £410,657.50 per annum reflecting a low rent per sq ft of £27.50.
  • Conservative ERV of £500,000 pa reflecting £33.50 psf in line with recent post Covid open market lettings in the area.
  • Seeking offers in excess of £8.1M (EIGHT MILLION ONE HUNDRED THOUSAND POUNDS) subject to contract and exclusive of VAT for our client’s freehold interest in the above.
  • A purchase at this level reflect a net initial yield of 4.75% and a potential reversionary yield of 5.78% after allowance for purchaser’s costs of 6.8%.
  • Approximate capital value of £540 psf.