8 The Avenue, Minehead, Somerset TA24 5AZ
Barnett Ross Property AuctioneersBarnett Ross was formed in October 2002, drawing upon the combined 60 year's auction experience of John Barnett and Jonathan Ross, and immediately established itself as one of the largest independent auction houses in the U.K.
Read more Read moreLot 3 Freehold Town Centre Retail Investment let to Iceland – Gross Yield 10% 6 week completion SITUATION Located close to the junction with Summerland Road and Blenheim Road in the town’s main shopping location and amongst such multiples as Poundland, WHSmith, NatWest, Greggs, Superdrug, Holland & Barrett, The Works, Boots and a host of local traders. Minehead is a popular seaside town located approx. 20 miles north-west of Taunton, enjoying good road access to the M5 (Junction 23) via the A39. PROPERTY A mid terraced building comprising a Ground Floor Retail Unit with Ancillary Accommodation on first and second floor levels. In addition, the property includes a Front Forecourt and benefits from rear access via Summerland Road to a Loading Area . VAT is applicable to this Lot FREEHOLD ACCOMMODATION Ground Floor Retail Unit Gross Frontage 50'0" Internal Width 46'10" Built Depth 85'0" Area Approx. 4325 sq ft¹ First Floor Ancillary Area Approx. 2,963 sq ft¹ Second Floor Ancillary Area Approx. 330 sq ft¹ Total Area Approx. 7,618 sq ft ¹Area taken from VOA TENANCY The entire property is let on a full repairing and insuring lease to Iceland Foods Limited (having approx. 970 branches) (T/O for Y/E 28/03/2025 £4.118 bn, Pre-Tax Loss £900,000 and Shareholders’ Funds £707m) for a term of 5 years from 28th January 2025 (renewal of a previous lease – in occupation for at least 14 years) at a current rent of £55,000 per annum exclusive. Tenant’s Break January 2028
