• Address
    10/16 The Avenue, Minehead, Somerset, TA24 5UQ
  • Price
    £760,000
  • Yield
    9%
  • Sector
    Retail
  • Size
    7,112 Sq Ft
  • Lease Term
    High Street Retail Unit let to Poundland with an unexpired term of 9.5 yrs
  • Client
    Family Property Company
  • Type
    Acquisition

Minehead

Located on the West Somerset Coast, Minehead is a prosperous coastal town and holiday resort situated some 21 miles north west of Taunton.

Situated on the A39 trunk road which is accessed from the M4 Motorway, Minehead provides good road links with Bridgwater (21 miles), Taunton (21 miles), Exeter (33 miles) and Barnstaple (37 miles).

Minehead has an urban area population of 11,699 persons (2001 Census). The population within 6.2 miles of the town centre is 17,343 persons and within 20km 31,276 persons (Focus 1994 estimate). In addition the number of visitors to the town centre is significantly boosted by tourism and can rise to over 35,000 in peak season months.

The property is located on The Avenue. The main retailing pitch in Minehead is centred around The Parade, The Avenue and Friday Street. The Parade is the prime pitch and retailers located here include Boots, Superdrug, W H Smith, Specsavers, Argos and the major banks. Zone A rates here have historically reached circa £33.00 per sq ft.

The subject premises are located in a good secondary position on The Avenue close to the seafront. The unit is close to Co-operative Supermarket, Sportsdirect.com and adjacent to Iceland and Lifestyle with a number of surrounding retailers being local independents.

The town is well served by Local Authority car parks close to the prime retail pitch as well as providing on street parking along The Avenue and The Parade.

The property comprises a former Somerfield Foodstore situated in the ground floor only and part basement of the former Regal Cinema, which now contains 410 seats, and is maintained by the MATA Theatre Company Limited as a centre for live performance and theatre. The upper floors and entrance to the Theatre do not form part of the sale.

The unit has been fitted out by Poundland incorporating its standard corporate fascia.

Contacts

Steve Orzel

+44 (0)20 7112 8571

Anthony Friedman

+44 (0)20 7112 8572