Iceland Foods Limited, 5-7 Walpole Road, Gosport, Hampshire PO12 1RR

Gosport, PO12 1RR

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Iceland Foods Limited, 5-7 Walpole Road, Gosport, Hampshire PO12 1RR
Price £2,600,000
Rent (pa) £200,000
Yield 7.23%

Investment Summary

  • Town centre discount supermarket investment
  • Situated along the main pedestrianised retail pitch of Walpole Road, Gosport
  • Mixed use location with national retail occupiers and adjacent to Gosport Town Hall
  • The local area has good transport links with the M57 Motorway connecting the wider areas of south east and south west of the UK
  • Total floor area of 16,694 sq ft
  • Parking provision for around 20 vehicles to the rear of the store
  • Let to Iceland Foods Ltd (guaranteed by Ice Acquisitions Limited)
  • 25 year lease from 28th February 2005, expiring on 27th February 2030 (8 years unexpired)
  • Current passing rent is £200,000 per annum (£11.98 psf)
  • Fixed uplift to £220,000 per annum (£13.18 psf) on 28th February 2025
  • Iceland removed the break in February 2023 for rent free highlighting trading profitability of the store
  • Part sub-let to The Secretary of State for Housing, Communities and Local Government (t/a Job Centre)
  • Sub-let rent of £80,000 per annum subject to 5 yearly CPI reviews
  • Freehold
Town Gosport
Postcode PO12 1RR
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