Co-operative Investment, Former Horse Pond Inn, The Triangle, Castle Cary, BA7 7BD
Offers in Excess of
£1,500,000
£313.87 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
4,779-8,623 sq ft
444-801 sq m
- SECTOR
Convenience store for sale
Key features
- Ground floor lease to The Co-op Group Food Ltd
- Site area of 0.383 acres (0.155 ha)
- GIA of 4,779 sq. ft (444 sq. m) of convenience store
- 15 years unexpired term
- Undoubted covenant
- Commercial rent of £95,675.58 per annum (£20.02 per sq. ft)
- Guide price - OIEO £1.5 million, reflecting a net initial yield of 6.01%.
- Guide price inclusive of residential - OIEO £2.2 million
Description
Description
The property is a converted public house situated on a site measuring approximately 0.383 acres (0.155 hectares). It now features a newly built Co-op store, which benefits from 10 customer parking spaces, located down the newly extended right-hand side of the building, accessible via a one-way street from Lower Woodcock Street. The parking area leads to an exit on Market Yard, offering convenience for customers.
Adjacent to the entrance of the Co-op is a three bedroom maisonette with ground floor access. This flat includes a private garden and a designated parking space. Furthermore, located at the rear of the site is a two-bedroom house, which also has a dedicated parking space, providing a mix of residential and commercial uses on the same property (The two residential units can be purchased in addition to the Co-op investment by way of separate negotiation).
Location
Castle Cary is a historic market town in South Somerset, located approximately 13 miles (21 km) north-east of Yeovil and 30 miles (48 km) south of Bath. The town benefits from excellent road links, with the A371 connecting it to nearby towns, and Castle Cary railway station providing direct rail services to London Paddington.
The Co-op is located at the former Horse Pond Inn on The Triangle, in the heart of Castle Cary. The premises occupies a central trading position in this picturesque town, known for its mixture of independent shops and businesses. The location provides convenient access for both locals and visitors, with parking available at the rear of the store.
The immediate vicinity is made up of predominantly residential, mixed with small businesses and services that cater to both locals and visitors. The location is well-positioned for convenience shopping, serving the local community and the wider rural areas around Castle Cary.
Planning
From 1st September 2020, under the Town and Country Planning (Use Classes) Order 1987 (as amended), we understand the Horse Pond Inn, The Triangle, Castle Cary, BA7 7BD benefits from Class E retail use on the ground with C3 residential use on part of the ground and the whole of first floor and on the 2 bed house.
The property is a Grade II listed building as per Historic England’s listing entry (List Entry Number: 1366387), is situated within a Conservation Area, and lies outside of any prohibitive flood zones.
Tenure
Freehold, subject to individual occupational lease. The residential units can be purchased in addition separately with vacant possession.
Tenancy
The property is let on an FRI lease of the ground floor for a term of 15 years (no breaks) from March 2025, at a rent of £95,675.58 per annum. The ground floor lease is subject to 5 yearly upward only rent reviews, CPI linked with a cap and collar of 3% and 1%.
Covenant
CO-OPERATIVE GROUP FOOD LIMITED has been given a ‘5A2’ D&B Rating.
The Co-operative Group Food Ltd (Company Number: 26715R) is the UK’s 5th largest food retailer and a wholly owned subsidiary of The Co-operative Group Ltd which was established in 1844 and now operates 4,500 outlets with approximately 90,000 employees and an annual turnover in the order of £8.5 billion. The tenant is therefore considered an undoubted covenant capable of meeting their lease obligations.
Accommodation
The residential accommodation comprises two units: a three-bedroom maisonette and a two-bedroom mid-terrace house.
The three-bedroom maisonette is arranged over two floors and includes a fitted kitchen, living room, three bedrooms, study, and a bathroom. It is suitable for owner-occupiers or investors, with potential for rental income.
The two-bedroom house offers a kitchen, living room, two bedrooms, and a bathroom. It is well-suited for private ownership or buy-to-let purposes.
Accommodation Guide Prices
We are instructed to seek offers in the region of £425,000 for the three-bedroom maisonette and £300,000 for the two-bedroom house. Both residential units are available by way of separate negotiation and can be sold individually or as part of a wider transaction, depending on the purchaser’s requirements.
EPC
A-20
VAT
The investment will be sold as a TOGC and will therefore be exempt from paying VAT.
Guide Price
We are instructed to seek offers in excess of £1,500,000 (One Million Five Hundred Thousand Pounds) for the convenience store investment subject to contract and exclusive of VAT. This reflects a Net Initial Yield of 6.01% after allowing for the usual purchaser’s costs.
We are instructed to seek offers in the region of £425,000 for the three-bedroom maisonette and £300,000 for the two-bedroom house. The residential units are available by way of separate negotiation.
AML
In accordance with anti-money laundering regulations, the successful purchaser will be required to provide identification documents upon request and without delay.
Viewing
For a formal viewing strictly by appointment with Savills.
The property is a converted public house situated on a site measuring approximately 0.383 acres (0.155 hectares). It now features a newly built Co-op store, which benefits from 10 customer parking spaces, located down the newly extended right-hand side of the building, accessible via a one-way street from Lower Woodcock Street. The parking area leads to an exit on Market Yard, offering convenience for customers.
Adjacent to the entrance of the Co-op is a three bedroom maisonette with ground floor access. This flat includes a private garden and a designated parking space. Furthermore, located at the rear of the site is a two-bedroom house, which also has a dedicated parking space, providing a mix of residential and commercial uses on the same property (The two residential units can be purchased in addition to the Co-op investment by way of separate negotiation).
Location
Castle Cary is a historic market town in South Somerset, located approximately 13 miles (21 km) north-east of Yeovil and 30 miles (48 km) south of Bath. The town benefits from excellent road links, with the A371 connecting it to nearby towns, and Castle Cary railway station providing direct rail services to London Paddington.
The Co-op is located at the former Horse Pond Inn on The Triangle, in the heart of Castle Cary. The premises occupies a central trading position in this picturesque town, known for its mixture of independent shops and businesses. The location provides convenient access for both locals and visitors, with parking available at the rear of the store.
The immediate vicinity is made up of predominantly residential, mixed with small businesses and services that cater to both locals and visitors. The location is well-positioned for convenience shopping, serving the local community and the wider rural areas around Castle Cary.
Planning
From 1st September 2020, under the Town and Country Planning (Use Classes) Order 1987 (as amended), we understand the Horse Pond Inn, The Triangle, Castle Cary, BA7 7BD benefits from Class E retail use on the ground with C3 residential use on part of the ground and the whole of first floor and on the 2 bed house.
The property is a Grade II listed building as per Historic England’s listing entry (List Entry Number: 1366387), is situated within a Conservation Area, and lies outside of any prohibitive flood zones.
Tenure
Freehold, subject to individual occupational lease. The residential units can be purchased in addition separately with vacant possession.
Tenancy
The property is let on an FRI lease of the ground floor for a term of 15 years (no breaks) from March 2025, at a rent of £95,675.58 per annum. The ground floor lease is subject to 5 yearly upward only rent reviews, CPI linked with a cap and collar of 3% and 1%.
Covenant
CO-OPERATIVE GROUP FOOD LIMITED has been given a ‘5A2’ D&B Rating.
The Co-operative Group Food Ltd (Company Number: 26715R) is the UK’s 5th largest food retailer and a wholly owned subsidiary of The Co-operative Group Ltd which was established in 1844 and now operates 4,500 outlets with approximately 90,000 employees and an annual turnover in the order of £8.5 billion. The tenant is therefore considered an undoubted covenant capable of meeting their lease obligations.
Accommodation
The residential accommodation comprises two units: a three-bedroom maisonette and a two-bedroom mid-terrace house.
The three-bedroom maisonette is arranged over two floors and includes a fitted kitchen, living room, three bedrooms, study, and a bathroom. It is suitable for owner-occupiers or investors, with potential for rental income.
The two-bedroom house offers a kitchen, living room, two bedrooms, and a bathroom. It is well-suited for private ownership or buy-to-let purposes.
Accommodation Guide Prices
We are instructed to seek offers in the region of £425,000 for the three-bedroom maisonette and £300,000 for the two-bedroom house. Both residential units are available by way of separate negotiation and can be sold individually or as part of a wider transaction, depending on the purchaser’s requirements.
EPC
A-20
VAT
The investment will be sold as a TOGC and will therefore be exempt from paying VAT.
Guide Price
We are instructed to seek offers in excess of £1,500,000 (One Million Five Hundred Thousand Pounds) for the convenience store investment subject to contract and exclusive of VAT. This reflects a Net Initial Yield of 6.01% after allowing for the usual purchaser’s costs.
We are instructed to seek offers in the region of £425,000 for the three-bedroom maisonette and £300,000 for the two-bedroom house. The residential units are available by way of separate negotiation.
AML
In accordance with anti-money laundering regulations, the successful purchaser will be required to provide identification documents upon request and without delay.
Viewing
For a formal viewing strictly by appointment with Savills.
Brochures
Co-operative Investment, Former Horse Pond Inn, The Triangle, Castle Cary, BA7 7BD
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Castle Cary Station0.9 miles
- Bruton Station3.4 miles
About Savills, Southampton - Licensed Leisure
Savills, Mountbatten House,1 Grosvenor Square Southampton SO15 2BZNotes
These notes are private, only you can see them.
Disclaimer - Property reference 299874-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills, Southampton - Licensed Leisure. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.