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Buy-to-let apartment block sold off-plan in record deal for town

Buy-to-let apartment block sold off-plan in record deal for town

A 16-storey block of 139 apartments has been sold off-plan in Reading town centre – the biggest residential deal on record in the town.

The selling price of Chatham Place, which is due to be completed in 2014, was £20m-plus.

The unnamed buyer will resell the apartments as buy-to-let investments to international buyers.

The scheme is by Muse Developments, and Haslams Estate Agents acted as brokers.

Chatham Place is a regeneration scheme which is close to Reading railway station, currently undergoing a massive redevelopment. Train times from Reading to Paddington can be as little as 30 minutes.

A second apartment block at Chatham Place, with 45 flats, is due to be released for sale next year.