3-5a & 5 The Parade, Minehead TA24 5NL
Size
4,939
Tenure
Freehold
EPC
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Parking
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- Primary use
- High street retail
- Frontage
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No floor / site plan
Key features
- Rental Income: £47,000 p.a.
- Gross Initial Yield: 8.03%
- Comprises ground floor shop t/a Whole Foods (No.3) with self-contained café on upper floors (No.5A) let to the same tenant, and adjoining ground floor shop t/a Vape Shop (No.5)
- Includes building at rear (The Vault), which has been sold-off on long leasehold. Reversion 2151
- VAT is NOT applicable to this property
Description
Gross Initial Yield: 8.03%
Rental Income: £47,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop t/a Whole Foods (No.3) with self-contained café on upper floors (No.5A) let to the same tenant, and adjoining ground floor shop t/a Vape Shop (No.5)
Includes building at rear (The Vault), which has been sold-off on long leasehold. Reversion 2151
Located in the heart of town centre with occupiers nearby including Boots and Superdrug, Greggs, Costa Coffee, Post Office, Specsavers, Trespass, Santander, Betfred and many more.
Property Description:
Comprises grocery shop at ground floor (No.3) with café at first, second floor and third floor (No.5A) let to the same tenant, and adjoining self-contained ground floor shop (No.5). The property includes a building at rear, which has been sold-off on long leasehold, providing the following accommodation and dimensions:
No.3-5A: 286 sq m (3,084 sq ft)
Ground Floor: Open plan retail, storage, wc
First Floor: 4 café rooms, kitchen, storage
Second Floor: Staff rooms, storage, wc
Third Floor: Ancillary, storage
No.5: 172 sq m (1,855 sq ft)
Ground Floor: Open plan retail, storage, wc
The Vault: Sold-off
Total GIA: 458 sq m (4,939 sq ft)
Tenancy:
No.3-5A is at present let to Naturalife Wholefoods Ltd (with personal guarantee) for a term of 5 years from 15th August 2023 at a current rent of £32,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 15.08.26 linked to RPI. No breaks.
No.5 is at present let to E-Cig City Ltd from 22nd June 2023 to 31st July 2033 at a current rent of £15,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 1st August 2026,2029 and 2032 open market upward only. Tenant option to determine on 01.08.28 with min 4 months notice.
The Vault building has been sold-off on long leasehold for a term of 125 Years from 9th March 2026 at a ground rent of peppercorn. Reversion 2151.
Location:
Minehead is a coastal town and civil parish in Somerset, England. It lies on the south bank of the Bristol Channel, 21 miles north-west of the county town of Taunton, 12 miles from the border with the county of Devon and in proximity of the Exmoor National Park. The town is located on the A39 road, and is 28 miles (45 km) north-west of the M5 motorway at junction 24. The property is located in the town centre with occupiers nearby including Boots and Superdrug, Greggs, Costa Coffee, Post Office and many more.
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- Use class
- E
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Brochure
About BLUE ALPINE PARTNERS LIMITED, London
Blue Alpine is a UK-wide property consultancy based in central London, focusing on commercial property, developments and residential blocks. Our services include disposals, acquisitions, lettings, auction advice, planning and architecture, dilapidations, and surrenders of leases.
Blue Alpine plans and delivers solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. By employing a transparent and consultative approach, we can assess and manage your current portfolio to devise a forward-looking investment plan and, if necessary, an exit strategy.
We are dedicated to disrupting the commercial property industry by delivering exceptional solutions that prioritise honesty, transparency, integrity, and providing an unparalleled client experience. Our team consists of knowledgeable professionals with a strong background in commercial property, enabling us to help clients around the world turn property into a path for growth.
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Disclaimer - Property reference 3-5atheparade. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by BLUE ALPINE PARTNERS LIMITED, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.