6 bed block of flats

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6 bed block of flats

The Parade, Minehead TA24
£750,000

Our Summary

  • Straightforward and appealing Freehold investment opportunity in Minehead, West Somerset
  • This is the highest-footfall area, benefiting from year-round local trade and significant seasonal uplift
  • Investment stock in this core area often includes mixed-use opportunities (retail on the ground floor, residential/office conversion potential above), offering diversified income streams and greater long-term value

Description

This is a freehold investment opportunity in Minehead, West Somerset, a busy resort town that attracts tourists and locals alike. The property is a well-established commercial and residential asset, comprising a ground-floor retail unit and four self-contained residential flats above. The retail unit is let to The Works Stores Limited on a 10-year lease, providing a secure income stream with built-in rental growth. The residential flats are let on Assured Shorthold Tenancies, providing supplementary income. The property offers a diversified income stream, with a gross initial yield of 7.57%. The town's prime retail district, Zone A, benefits from year-round local trade and significant seasonal uplift, making it an attractive investment opportunity.