Retail for sale - Co-operative Investment, Former Horse Pond Inn, The Triangle, Castle Cary, BA7 7BD

<strong>Description</strong><br>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. <br /> <br /> 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).<br><br><strong>Planning</strong><br>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. <br /> <br /> 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.<br><br><strong>Tenure</strong><br>Freehold, subject to individual occupational lease. The residential units can be purchased in addition separately with vacant possession.<br><br><strong>Tenancy</strong><br>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%.<br><br><strong>Covenant</strong><br>CO-OPERATIVE GROUP FOOD LIMITED has been given a ‘5A2’ D&B Rating.<br /> <br /> 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.<br><br><strong>VAT</strong><br>The investment will be sold as a TOGC and will therefore be exempt from paying VAT.<br><br><strong>Guide Price</strong><br>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.<br><br><strong>AML</strong><br>In accordance with anti-money laundering regulations, the successful purchaser will be required to provide identification documents upon request and without delay.<br><br><strong>Viewing</strong><br>For a formal viewing strictly by appointment with Savills.<br><br>