39 Whitley Street, Reading, Berkshire

Description

Freehold restaurant and residential investment. Total accommodation of approximately 267.76 sq m (2,882 sq ft). Situated on the east side of Whitley Street, in the town centre. VAT is not applicable.

Accommodation

Restaurant and a large self-contained flat on the first floor; total accommodation approximately 267.76 sq m (2,882 sq ft).

Location

Situated on the east side of Whitley Street, close to its junction with Southampton Street, in Reading town centre. Reading is a major commercial and administrative centre in Berkshire, situated on the River Thames, 25 miles south of Oxford and 40 miles west of London. Nearby occupiers include Tesco Express and a wide array of independent retailers.

Tenure / Property Information

Investment Analysis

Commercial freehold restaurant with a self-contained first-floor flat, approximately 2,882 sq ft, entirely let to Gooinara Ltd until 2037 with no breaks. The latest same-street Land Registry comparable sold for £335,000 in August 2026. Other same-street evidence ranges from £285,000 to £510,000, but dates, sizes, uses and condition are not supplied, so this is only a broad market indication rather than a formal valuation. The guide range of £275,000–£300,000 is below the latest £335,000 comparable, subject to lease terms, condition and any additional auction charges.

Investment Snapshot

Strategy Recommendation

Treat as a tenanted commercial/mixed-use investment only after verifying the passing rent, lease covenant, repair obligations, rent reviews and full auction special conditions. Do not bid solely on the apparent discount to the latest comparable.

Works Required

No specific repair, refurbishment or compliance works are evidenced. The property is entirely let, so any works would require review of the lease, tenant obligations and access arrangements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable without the passing rent, lease details, property condition, refurbishment budget and finance costs. A mechanical 75% refinance of the £335,000 base market indication would be £251,250, but cash left in cannot be calculated without total acquisition and works costs.

Buy-to-Let Analysis

BTL or commercial investment yield cannot be established because no passing rent, rent review provisions, lease premium or operating cost information is supplied. The two advertised one-bedroom flat rents of £725 pcm and £875 pcm cannot be applied to the whole property because the flat is included within the tenant's lease and the restaurant rent is unknown.

Flip Analysis

A flip is difficult to underwrite because the property is leased to 2037 with no breaks, no condition schedule or refurbishment scope is supplied, and the resale evidence is limited and not fully comparable. The £335,000 base indication is based primarily on the latest same-street sale, not a supported vacant-possession resale valuation.

Investor Risks & Due Diligence

• No passing rent or full lease economics are supplied, preventing yield and income valuation analysis.

• The property is entirely let to one tenant until 2037 with no breaks, creating reliance on the tenant and limiting flexibility.

• Restaurant and first-floor flat condition, compliance and repair obligations are not evidenced.

• Comparable sales vary substantially in date and may differ in size, use and condition.

• Buyer, administration and other seller or third-party charges are unspecified.

• No EPC, council tax, parking or heating information is supplied.

Recommendation

Treat as a tenanted commercial/mixed-use investment only after verifying the passing rent, lease covenant, repair obligations, rent reviews and full auction special conditions. Do not bid solely on the apparent discount to the latest comparable.

Strategy Rating

Analysis Confidence

The address, tenure, occupancy, lease duration, accommodation and several same-street completed sales are supplied, but passing rent, lease economics, condition, costs, EPC, finance assumptions and detailed comparable specifications are absent.