Summary - Mayer House, Chatham Place, Reading RG1 7AN
1 bed 1 bath Apartment
Well-presented city flat with immediate rental income potential.
Sixth-floor one-bedroom apartment, approx 508 sq ft
A sixth-floor, one-bedroom apartment in a modern mid-rise block close to Reading town centre and the mainline station. The flat offers about 508 sq ft of contemporary open-plan living, good natural light from plentiful glazing and fast FTTP broadband — features that appeal to city renters and professionals.
The property is currently tenanted until November 2024, producing an estimated rent of £1,300 pcm (approx. 7% gross yield at the asking price). This makes it a straightforward buy-to-let opportunity with immediate rental income, set in an urban, well-serviced block with communal entrance and mid-2000s construction standards.
Buyers should note material drawbacks: the lease has 83 years remaining and will need prompt attention or extension, and the service charge is approximately £2,095 per year. The apartment has no allocated parking and on-street parking only. Local indicators show higher crime levels and area deprivation, factors that may affect future tenant demand and resale profile.
Overall, this is a centrally located, well-presented city flat that suits investors seeking immediate income from a tenanted asset. Factor in lease length, service charges and the local socio-economic context when assessing medium-term returns or plans for owner occupation after the tenancy ends.
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