Commercial · For sale

50-60 Broad Street, Reading – Freehold Multi-Let Town Centre Retail & Leisure Investment

50-60 Broad Street, Broad Street, Friar Street & Union Street, Reading, Reading, RG1 2AA

Offers over £22,500,000

Tenure

Freehold

Added

18 Oct 2026

About this property

Accommodation The buildings range from two to three storeys in height, with retail and leisure at ground floor and ancillary back-of-house and office accommodation on the upper floors. The property extends to a combined net internal area of approximately 128,195 sq ft, with a vacancy rate of 22.41% by area, largely within the vacant upper floors. A full floor-by-floor accommodation schedule is set out within the tenancy schedule overleaf. The upper parts represent the principal development opportunity. In total, the property includes seven units fronting Broad Street, three units fronting Friar Street (directly facing the Station Hill development, where the Elizabeth Line station is visible) and three smaller units on Union Street, a secondary pedestrianised street linking Broad Street with Friar Street.

Key points: - 5 Union Street: under offer on a new 5-year lease at £33,000 pa; rent free to be topped up by the vendor. - 50 Broad Street & 1A Union Street: under offer to a restaurant operator on a new 10-year lease at £105,000 pa; rent free topped up by the vendor. - Vacant upper floors (50, 52-53, 56-58 and 60 Broad Street): vendor to provide a 12-month top-up of vacant rates and service charge. Planning granted at 50. - Nationwide: tenant break 03/11/2027. JD: 17/08/2025 break not exercised; service charge cap £18,019.30 pa. - Schuh: base rent £95,000 plus 8% turnover above base; 21/01/2025 break not exercised. - Deichmann: base rent 80% of previous year's turnover, total rent 10% of turnover; rent shown is the average of 2024 and 2025 rent paid; rent review and break. - Black Sheep Coffee: base rent £70,000 plus 8% turnover above base; review 06/10/2027; £80.70 shortfall from management fee cap. - Memory of Szechuan: new 5-year lease with mutual rolling break from year 3; no rent free. Popworld: rent review 25/03/2028. - Sams 99p: £75,000 pa with £3,391.60 service charge shortfall (cap £3,000 pa). 4 Union Street: rent deposit equal to 6 months' rent. - Substantial, unbroken freehold ownership on Broad Street, Reading's prime pedestrianised retail pitch, opposite Station Hill.

Figures are taken from the vendor's particulars and are subject to contract. Enquire through PropSale for the full information pack.

Features

• Total Passing Rent: £1.75m pa
• Net Initial Yield: 7.84%
• Tenure: Freehold