20 The Parade Minehead Somerset TA24 5UG

20 The Parade
Minehead
Somerset
TA24 5UG

Freehold Retail Investment

  • Entirely let to WH Smith Retail Holdings Limited on a re-geared lease from 2016 (2)
  • Tenant in occupation since at least 2011
  • Prominent corner position in prime retail location
  • Nearby occupiers include Boots the Chemist, Argos, Superdrug and Card Factory
  • VAT free investment
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    36
  • Auction
    19th May 2016
  • Rent
    £42,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £575,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of CBRE Receivers
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail Investment

  • Entirely let to WH Smith Retail Holdings Limited on a re-geared lease from 2016 (2)
  • Tenant in occupation since at least 2011
  • Prominent corner position in prime retail location
  • Nearby occupiers include Boots the Chemist, Argos, Superdrug and Card Factory
  • VAT free investment
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 36
  • Auction 19th May 2016
  • Rent
  • Status Sold
  • Price £575,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of CBRE Receivers

Property Information

Location
Miles
25 miles north-west of Taunton, 45 miles north of Exeter
Roads
A39, A396
Rail
Taunton Rail
Air
Exeter International Airport
Situation

Minehead is a coastal town in Somerset and home to the Butlins Holiday Park, which attracts several thousand tourists every year. The property is situated in a prominent corner position where
Summerland Road joins The Parade, the principal retail trading location within Minehead. Nearby occupiers include Boots the Chemist, Argos, Superdrug and Card Factory.

Tenure

Freehold.

Location
Miles
25 miles north-west of Taunton, 45 miles north of Exeter
Roads
A39, A396
Rail
Taunton Rail
Air
Exeter International Airport
Situation

Minehead is a coastal town in Somerset and home to the Butlins Holiday Park, which attracts several thousand tourists every year. The property is situated in a prominent corner position where
Summerland Road joins The Parade, the principal retail trading location within Minehead. Nearby occupiers include Boots the Chemist, Argos, Superdrug and Card Factory.

Tenure

Freehold.

Description

The property comprises a substantial retail unit with a return frontage and ancillary accommodation on the first and second floors.

Six Week Completion

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a substantial retail unit with a return frontage and ancillary accommodation on the first and second floors.

Six Week Completion

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
Ground
First
Second
Retail/Ancillary
Ancillary
Ancillary
227.52 sq m
124.87 sq m
177.06 sq m
(2,449 sq ft)
(1,344 sq ft)
(1,906 sq ft)
WH SMITH RETAIL
HOLDINGS LIMITED
(1)
5 years from 2016 (2) on a
full repairing and insuring
lease
£42,500 2021
Totals  
529.45 sq m
(5,699 sq ft)
    £42,500

(1) For the year ending 31st August 2014, WH Smith Retail Holdings Limited reported a turnover of £164,447,000, pre-tax profits of £105,938,000 and a total net worth of £466,645,000 (Source: Experian Group 19/04/2016).
(2) The property is currently let on a 5 year lease from 13th January 2011 until 12th January 2016 at a rent of £42,500 p.a.x. Terms for a new 5 year lease, subject to a 6 month rent free period, at a rent of £42,500 p.a.x have been agreed and is in solicitors’ hands due to complete imminently. The seller has agreed to adjust the completion monies so that the property will produce £42,500 p.a.x from completion of the sale.

Property Documents

  • Site Plan
    Updated Date
    30.10.19
    File Size
    316 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    723 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Cameron Baloyi Rigby 0113 283 2500cameron.baloyirigby@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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