Iceland, Preston Street, Whitehaven CA28 9DL
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High yielding Iceland food retail investment in Whitehaven.
Located on edge of town centre next to Aldi & Home Bargains. Other occupiers nearby include Asda, Kwik Fit, Enterprise and IMO.
Detached retail unit of 6,989 sq ft on a shared site with Aldi and a total of 118 car spaces.
Let to Iceland Foods Ltd on a 25 year lease from February 2005. Ice Acquisitions Ltd act as surety.
Tenant option to break in February 2025 not exercised.
Rent – £92,336 per annum.
We are instructed to seek offers in excess of £835,000 (Eight Hundred and Thirty Five Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this price would reflect a net initial yield of 10.5%, assuming costs of purchase of 5.58%.
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