June 17th 2024.
In the bustling shopping zone, vibrant street art adds a splash of color to the already lively atmosphere. And if you've been searching under the couch cushions for spare change, you may just have enough to invest in something truly unique. The St Martin's Shopping Centre in Caversham, Reading, has recently been put on the market for a staggering £16,450,000. This bustling hub, which has been a staple in the community since 1969, is home to popular high street names like Boots and Costa.
The sale includes not only the shopping centre itself, but also the 250-space car park and ten flats that are currently being rented out. The centre is in great need of new owners to take over and continue its legacy. Currently, the anchor stores are a 40,000 sq ft Waitrose and a 13,000 sq ft Iceland, accompanied by other big names like Superdrug and local businesses like Terry's, Vegivores, and The Caversham Butcher.
Exciting news for potential buyers: the purchase also comes with planning permission to add more residential accommodations to the already impressive 92,000 sq.ft. of retail space. In the coming months, two new businesses are set to move in - an optician and a local bakery. This means that whoever takes over the shopping hub will have a fully occupied and thriving space, according to UK Property Forums.
But the history of this area goes back much further than the shopping centre itself. The land across the River Thames from Reading has been inhabited for over 1,000 years and is even mentioned in the Domesday Book. When the shopping centre first opened, the businesses it housed looked quite different from the ones we see today. In fact, the current Superdrug location used to be a Green Shield Stamp shop, and Boots and Costa occupy the spot where Stan Eldon sports shop and Knights newsagent used to be, according to BerkshireLive.
One of the many perks of owning this prime piece of real estate is the large car park that comes with it. And with the recent announcement of two new businesses moving in, the shopping centre is set to be fully occupied with a vibrant mix of retail and dining options for the community to enjoy. And if you need a break from the hustle and bustle, you can hop on a train and be in London in just 40 minutes.
For those with a hefty budget, £16,000,000 could buy you a luxurious country mansion in the Home Counties or a stylish apartment in the trendy Notting Hill neighborhood. But for those looking to make a bold and exciting investment, the St Martin's Shopping Centre may just be the perfect opportunity. So dig deep in those couch cushions and see if you can make this whacky investment your own.
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