Huge block of flats in Reading remain on the market with £11.5m asking price

Here is the most expensive property to purchase in Reading.

Priced at an astonishing £11.5m, someone, or a group of people, could buy a block of flats along the Kings Road in the town.

But what does the building offer?

There is a gym inside the building (Image: Zoopla)

It has a portfolio of 39 apartments, one studio, one and two bedroom apartments for sale.

It also has an onsite concierge service, gym and sky garden  with the contract being a leasehold.

At the time of writing, it is four years into a 250-year lease, with the nearest train stations being Reading and Reading West.

A sky garden is also available (Image: Zoopla)

It’s official description on Zoopla reads: “Brick Management are delighted to offer for sale a portfolio of 39 apartments in the highly sought after 300 Kings Road development, located just a ten minute walk from Reading town centre.

“Boasting on site facilities such as a concierge service, gymnasium and sky terrace, 300 Kings Road is popular with professionals and students alike.

“All apartments come with tenants in situ, so instant rental income upon completion of sale.

“The 300 Kings Road portfolio achieves an annual rent roll in excess of £570,000 per year, with 246 years remaining of 250 year lease.

The property was first listed in August 2023 (Image: Zoopla)

Other information includes an average electricity and gas bill of £101.

The property, as a whole, was officially listed on August 31, 2023 with the asking price of £11,460,000.

This is the same cost that is being offered 10 months later.

For more information about the flat and what it offers, go to www.zoopla.co.uk/for-sale/details/65497581.