Summary - 70 ADMIRALS COURT, READING, READING RG1 6SP
10 bed 6 bath Apartment
Established rental income with approved development upside close to town.
Freehold block of four apartments generating £73,200 per annum
Planning permission approved for an extra storey; +3 apartments potential
Allocated off-street parking for each apartment
Town-centre location with excellent mobile signal and fast broadband
Ten flats total: 10 bedrooms, 6 bathrooms across the block
Main heating via electric room heaters — higher running costs likely
Overall property size described as small; compact apartment footprints
Average local crime; standard urban management and lettings skills needed
This freehold block of four modern apartments sits moments from Reading town centre, currently producing £73,200 pa. The set includes two ground-floor two-bed units and two split-level three-bed units, plus allocated off-street parking for each apartment. Planning permission is approved to add a further storey, creating three additional flats and materially increasing rental income and capital value.
The apartments are contemporary in style and compact in footprint, suited to buy-to-let or a development hold. Main heating is electric room heaters, so running costs may be higher than gas-heated properties. The building is classified as small overall and lies in an inner-city location with good broadband and excellent mobile signal.
This is a clear value-add opportunity for an investor or developer. Income is established and uplift through the approved extension is immediate; however, purchasers should allow for potential refurbishment and ongoing running costs linked to electric heating. Average local crime and town-centre setting mean standard management and lettings experience will be important.
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