2 Bed Flat, Single Let, Reading, RG1 3EN £300,000

Blakes Quay, Gas Works Road, Reading, Berkshire, RG1 3EN - 2 views - a year ago

Leasehold

BTL

ROI: 3%

~68 m²

ValuationOvervalued

Sold Prices	£85.5K - £410K
Sold Prices/m²	£1.1K/m² - £5.7K/m²

Square Metres	~68.11 m²
Price/m²	£4.4K/m²
Value Estimate	£257,583£257,583

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£75,000£75,000
Stamp Duty & Legal Fees	£18,700£18,700
Total Cash In	£93,700£93,700

Cash Out
Rent Range	£1,400 - £5,400£1,400 - £5,400
Rent Estimate	£1,495
Running Costs/mo	£1,257£1,257
Cashflow/mo	£239£239
Cashflow/yr	£2,862£2,862
ROI	3%3%
Gross Yield	6%6%

Local Sold Prices

50 sold prices from £85.5K to £410K, average is £255K. £1.1K/m² to £5.7K/m², average is £4.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£410K	02/25	0 mi	Blakes Quay, 48, Gas Works Road, Reading RG1 3EN	£4,977	82	2	Flat
£388.1K	01/25	0 mi	Blakes Quay, 43, Gas Works Road, Reading RG1 3EN	£4,312	90	2	Flat
£85.5K	03/25	0.06 mi	110, The Meridian, Kenavon Drive, Reading RG1 3DP	£1,140	75	2	Flat
£275K	05/23	0.12 mi	78, Kennet Walk, Reading RG1 3GF	£3,125	88	2	Flat
£330K	06/21	0.15 mi	Flat 22, Q2, Watlington Street, Reading RG1 4AY	£4,352	76	2	Flat
£288K	03/25	0.17 mi	Flat 35, 6, Oscar Wilde Road, Reading RG1 3FG	£4,056	71	2	Flat
£358K	03/25	0.18 mi	Flat 21, 4, Palmer Street, Reading RG1 3GY	£5,508	65	2	Flat
£255K	07/25	0.18 mi	1, Grantley Heights, Kennet Side, Reading RG1 3EG	-	-	2	Flat
£295K	03/25	0.18 mi	Flat 21, 8, Oscar Wilde Road, Reading RG1 3FH	£3,734	79	2	Flat
£245K	01/25	0.18 mi	Wrenbury Court, Eldon Road, Reading RG1 4DL	£3,719	66	2	Flat
£146K	06/21	0.2 mi	6, Robert Parker Road, Reading RG1 3FN	£1,718	85	2	Flat
£405K	03/25	0.21 mi	10, 47 Queen's Wharf, Queens Road, Reading RG1 4QE	£3,682	110	2	Flat
£245K	12/22	0.3 mi	Flat 15, The Pinnacle, Kings Road, Reading RG1 4LY	-	-	2	Flat
£283K	02/23	0.3 mi	Flat 2, The Pinnacle, Kings Road, Reading RG1 4LY	-	-	2	Flat
£247.8K	11/21	0.3 mi	Flat 7, Greys Court, Sidmouth Street, Reading RG1 4PP	-	-	2	Flat
£295K	04/23	0.3 mi	Flat 30, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£270K	07/21	0.3 mi	Flat 18, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£290K	02/25	0.31 mi	83, Luscinia View, Reading RG1 8AE	£3,973	73	2	Flat
£117.5K	03/25	0.45 mi	19, 115 Blenheim Court, London Street, Reading RG1 4PH	£2,304	51	2	Flat
£188K	07/23	0.52 mi	Flat 6, Nelson Mews, St Giles Close, Reading RG1 2SF	-	-	2	Flat
£300K	02/25	0.53 mi	55 Stirling House, Flat 6, Silver Street, Reading RG1 2SU	£4,286	70	2	Flat
£240K	07/21	0.56 mi	11, Deansgate Road, Reading RG1 2RZ	-	-	2	Flat
£230K	09/21	0.58 mi	Flat 2, Sovereign Court, Mount Pleasant Grove, Reading RG1 2TS	-	-	2	Flat
£230K	02/25	0.58 mi	Hieatt Close, 20, Mount Pleasant, Reading RG1 2QH	£3,333	69	2	Flat
£230K	03/25	0.6 mi	28, Farringdon Court, Reading RG1 5NT	£4,182	55	2	Flat
£322K	10/24	0.6 mi	25, Send Road, Caversham, Reading RG4 8EH	£4,879	66	2	Flat
£180K	06/23	0.62 mi	Flat 19, Icon House, Merchants Place, Reading RG1 1EQ	-	-	2	Flat
£253K	06/25	0.65 mi	3, Riverside House, Fobney Street, Reading RG1 6BH	£3,721	68	2	Flat
£253K	06/25	0.65 mi	3, Riverside House, Fobney Street, Reading RG1 6BH	-	-	2	Flat
£245K	07/25	0.67 mi	18b, Coldicutt Street, Caversham, Reading RG4 8DU	-	-	2	Flat
£200K	03/25	0.69 mi	5, Fobney Street, Reading RG1 6BY	£4,762	42	2	Flat
£265K	09/21	0.71 mi	34, Swan Place, Reading RG1 6QD	£4,103	65	2	Flat
£255K	02/23	0.72 mi	1, Haywood Court, Reading RG1 3QF	£3,295	77	2	Flat
£300K	06/21	0.75 mi	Flat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS	-	-	2	Flat
£261.5K	02/23	0.75 mi	1, Westerham Walk, Reading RG2 0BA	-	-	2	Flat
£270.9K	10/22	0.76 mi	100a, Meadow Way, Caversham, Reading RG4 5LY	£4,516	60	2	Flat
£230K	09/21	0.76 mi	124, Meadow Way, Caversham, Reading RG4 5LY	£3,770	61	2	Flat
£220K	06/21	0.76 mi	34, Meadow Way, Caversham, Reading RG4 5LY	£3,860	57	2	Flat
£200K	06/21	0.77 mi	72, Amersham Road, Caversham, Reading RG4 5NA	£3,333	60	2	Flat
£285K	01/25	0.78 mi	16, Oaklands, Reading RG1 5RW	£4,914	58	2	Flat
£240K	09/21	0.78 mi	10, Southern Hill, Reading RG1 5ES	£4,706	51	2	Flat
£265K	10/22	0.79 mi	140, Gosbrook Road, Caversham, Reading RG4 8BJ	£5,000	53	2	Flat
£101.4K	02/23	0.79 mi	23, Talbot Court, Reading RG1 6QH	£2,157	47	2	Flat
£295K	01/25	0.81 mi	Regents Riverside, Flat 8, Brigham Road, Reading RG1 8QS	£4,758	62	2	Flat
£363K	06/23	0.81 mi	Flat 57, Regents Riverside, Brigham Road, Reading RG1 8QS	-	-	2	Flat
£190K	05/25	0.82 mi	41, Capital Point, Temple Place, Reading RG1 6QJ	£3,585	53	2	Flat
£190K	05/25	0.82 mi	41, Capital Point, Temple Place, Reading RG1 6QJ	-	-	2	Flat
£262.5K	09/21	0.82 mi	91, Elliots Way, Caversham, Reading RG4 8BW	£5,250	50	2	Flat
£170K	01/23	0.82 mi	Flat 48, Lynden Mews, Dale Road, Reading RG2 0AT	-	-	2	Flat
£295K	02/23	0.83 mi	74, Elliots Way, Caversham, Reading RG4 8BF	£5,673	52	2	Flat

Local Rents

50 rents from £1.4K/mo to £5.4K/mo, average is £1.7K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,150	07/25	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£2,250	11/25	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,500	06/25	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,950	06/25	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£3,250	07/24	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,400	07/24	0 mi	Blakes Quay, Gas Works Road, Reading, RG1	2	Flat
£1,500	06/25	0 mi	Blakes Quay, Gas Works Road, Reading, RG1	2	Flat
£1,650	08/25	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,450	07/25	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,500	07/24	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,650	10/25	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,500	07/24	0 mi	Blakes Quay, Reading	2	Flat
£1,417	07/24	0 mi	Blakes Quay, Reading	2	Flat
£1,600	07/24	0 mi	Blakes Quay, Reading	2	Flat
£2,000	09/24	0 mi	Blakes Quay, Reading	2	Flat
£1,550	11/25	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£2,100	08/24	0 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,650	08/25	0 mi	Blakes Quay, Gas Works Road, Reading, RG1	2	Flat
£1,700	10/23	0.01 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,500	11/25	0.01 mi	Blakes Quay, Gas Works Road, Reading, RG1	2	Flat
£1,950	07/24	0.02 mi	Carraway Street, Reading, RG1	2	Flat
£1,850	10/25	0.02 mi	Carraway Street, Reading, RG1	2	Flat
£1,600	10/23	0.03 mi	Blakes Quay, Gas Works Road, Reading, Berkshire, RG1	2	Flat
£1,750	07/25	0.04 mi	Kenavon Drive, Reading, RG1	2	Flat
£1,675	10/25	0.04 mi	The Meridian, Kenavon Drive, RG1	2	Flat
£5,400	07/24	0.04 mi	Kenavon Drive, Reading, RG1	2	Flat
£1,950	07/24	0.04 mi	Carraway Street, Reading, RG1	2	Flat
£1,850	07/24	0.04 mi	Carraway Street, Reading, RG1	2	Flat
£1,950	08/24	0.04 mi	Carraway Street, Reading, RG1	2	Flat
£1,760	08/24	0.04 mi	Carraway Street, Reading, RG1	2	Flat
£1,850	11/25	0.04 mi	Carraway Street, Reading, RG1	2	Flat
£1,750	07/25	0.05 mi	The Meridian, Kenavon Drive, Reading, RG1	2	Flat
£1,600	05/25	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,550	11/25	0.06 mi	The Meridian, Reading, Berkshire, RG1	2	Flat
£1,700	07/24	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,500	06/25	0.06 mi	The Meridian, Reading, Berkshire, RG1	2	Flat
£1,800	07/24	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,500	07/24	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,800	07/24	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,650	06/25	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,750	06/25	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,700	08/24	0.06 mi	The Meridian, Reading, RG1	2	Flat
£1,750	07/25	0.06 mi	Kenavon Drive, Reading, RG1	2	Flat
£1,800	08/25	0.06 mi	The Meridian, Reading, RG1	2	Flat
£1,550	07/24	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,850	08/25	0.06 mi	The Meridian, Kenavon Drive, Reading, Berkshire, RG1	2	Flat
£1,700	09/24	0.06 mi	-	2	Flat
£1,600	01/25	0.06 mi	-	2	Flat
£1,750	07/25	0.06 mi	-	2	Flat
£1,750	08/25	0.06 mi	-	2	Flat

Local Area Statistics

Population in RG1	43,08543,085
Population in Reading	321,187321,187
Town centre distance	0.65 miles away0.65 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.63 miles away0.63 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+5%+5%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+9%+9%

Property History

Price changed to £300,000

March 12, 2025

Price changed to £325,000

January 1, 2025

Listed for £335,000

November 16, 2024

Floor Plans

Description

Two Bedrooms +
No Onward Chain +
Balcony With River Views +
Town Centre Location +
Undercroft Parking +
Gated Development +

Offered to the market with no onward chain and located within a short walk from the Oracle shopping centre and Reading mainline station, this two bedroom apartment is ideal for first time buyers and investment buyers alike.

The property offers spacious accommodation comprising: entrance hallway, two bedrooms, bathroom, living room and a kitchen.

The property also benefits from having an allocated under croft parking space and a balcony with views over the river Kennet. Viewing is recommended.

At the time of Instruction, we have been advised by the vendors of the following information:

Council Tax Band D (Reading Borough Council)

Ground rent £150 p/a
Service charge £2,077.20 p/a
133 years remaining on the lease

The above information may be subject to change during the transaction period.

Agent Details

Parkers, Reading

0118 230 6420

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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