Located in the heart of Reading town centre, 20 Cross Street is a versatile freehold commercial property arranged over five floors, offering both strong existing rental income and exciting development potential. The building is currently fully let, generating an annual income of £40,600, with a projected potential of up to £70,000 per annum.
The property comprises a beauty salon occupying the ground floor and basement levels, medical treatment rooms on the first floor, a tattoo parlour on the second floor, and office accommodation on the top floor. Tenancies on the upper floors are on flexible terms, allowing for vacant possession to be secured relatively quickly if desired.
Planning permission has been granted by Reading Borough Council (application number PL/22/1423) for the conversion of the upper floors into three one-bedroom residential flats. This approval presents a compelling opportunity for investors or developers to unlock additional value in a prime central location, just moments from The Oracle shopping centre and Reading railway station.
As part of the approved planning scheme, a £30,000 Section 106 affordable housing contribution is payable to Reading Borough Council.
20 Cross Street offers a rare opportunity to acquire a centrally located, income-generating asset with clear potential for residential conversion in one of the South East's fastest-growing urban centres. Viewings are strictly by appointment.

Shared Ownership: No