The Tally Ho, 749 High Road, North Finchley, London N12 ... - Allsop

The Tally Ho, 749 High Road, North Finchley, London N12 0BP
Long Income Investment Opportunity Let to
Leisure Investment

The Tally Ho, 749 High Road, North Finchley, London N12 0BP
Investment Considerations
■ Freehold.
■ Impressive period building totalling approximately
10,822 sq ft.
■ Long income to JD Wetherspoon plc until 2034 subject
to a break option in 2029.
■ Strong residual site value with future potential to
redevelop the upper fl oors.
■ Well known North London landmark building.
■ Prominent island site on Tally Ho Corner.
■ We are instructed to seek offers in excess of £2,370,000
(Two Million Three Hundred and Seventy Thousand
Pounds) subject to contract and exclusive of VAT for
our client’s freehold interest. A purchase at this level
would refl ect a net initial yield of 5.75% assuming
purchaser’s A5 costs of 5.8% and a low capital rate of
A418
A505
M1
Stevenage
approximately Dunstable £219 per sq ft.
Luton
A5
Luton
A1(M)
Knebworth
A10
A120
M11
Bishop’s
Stortford
Stansted
A120
A120
A131
A120
A602
A5 M1
A1(M)
M11
A131
A130
Welwyn Garden
1
A10
City Hertford
A12
A1(M) A414 A414
M11
M1
A130
A41 Hemel
Harlow
A12
Hempstead St Albans Hatfield
Location
M10
Chelmsford A138
A41
A414
A414 A414
J21
A1(M)
A10
North Finchley is located in the London Borough
J21
M25
M11
Potters Bar
J20
Epping Chipping of Barnet, 13 km (8 miles) north of Central London.
M1
J23 M25
Ongar
A12
J19
J25
A130
A404
M25
North Finchley is a popular and vibrant location
J27
Borehamwood
providing a mix of offi ce, retail and leisure uses,
M25
Watford
A1
Enfield
M1
M25
igh Rickmansworth
NORTH
as well as being an affl uent north London residential
A10
M11
A12
A355
ombe
A130
A413
South FINCHLEY
location Billericay benefi ting from its local amenities and close
Chigwell Brentwood
M25 Oxney
J28 proximity to Wickford Central London.
M40
M1
Harefield
Stamford
A12
Harrow
M25 North Finchley is served by excellent transport links
Brent Hill Walthamstow A12
A127
M40 Ruislip
J29
A130
Cross J16
A10
Romford
and road Basildon communications, located 6.5 km (4 miles)
A12
A40 Wembely
Holloway
north east of J1 M1, 1.6 km (1 mile) north of the North
Benfleet
Uxbridge A40
Stratford
Circular A13 A406, 10 km (6 miles)
Southend-on-Sea
south east of J1 A1M
M25
Slough
A13
A13
Stanford-le-Hope Canvey
M25 and 10 km (6 miles)
M4
LONDON
Island
south of J24 M25. Woodside Park
A13
J15 M4 M4
and West Finchley stations provide direct access into
Fulham
Windsor
Hounslow
A2
Central London, taking approximately half an hour via
M25 Heathrow Richmond Clapham
A20
Dartford
the underground. The North Finchley bus interchange
A316
A2
Staines
M25 Gravesend also provides a hub for regular bus services. Sheerness
Ashford Kingston
J2
A2
Upon Thames
A20
A309
A3
A2
J12 M3
Bromley
A23
Swanley
322
Tolworth
J3
Gillingham
Rochester
Situation
The Tally Ho Public House benefi ts from being situated in a prominent corner
position known as Tally Ho Corner, at the junction of and fronting both Ballards
Lane A598 and High Road A1000.
The subject property is located 1 km (0.6 miles) south east of Woodside Park
station and 1.3 km (0.8 miles) north east of West Finchley station. The North
Finchley bus interchange is located 0.2 km (0.1 mile) to the south.
High Road provides a strong retailing pitch with retailers including Boots Opticians,
Argos, Clarks Shoes, Robert Dyas, Poundland, Aldi, Paddy Power and Bathstore
all being located close to the subject property.
North Finchley benefi ts from a number of local amenities, such as ‘The Great
Northern Leisure Complex’, located 1 km (0.6 miles) south of the subject
property, providing a David Lloyd, Vue Cinema, Hollywood Bowl, Ask, Nandos,
Café Rouge, McDonalds, Pizza Hut, Wagamama and a Comfort Inn.
Tally Ho Corner is the focal point of North Finchley, due to its location and
prominent position. In 2004 a large majority of the site was redeveloped and is
now known as the ‘ArtsDepot’, which provides a theatre containing approximately
400 seats and a bus interchange which is located nearby the site.

PRUS
DISE
EL
T
309
311
COUNCIL OFFICES
OFFICE
313
HALL STREET
REGENT CLOSE
DAVID RUBIN
& PARTNERS
ACCOUNTANT
CANCER RESEARCH UK
MARTYN GERRARD
WILLIAM HILL
BET OFF
KINLEIGH
FOLKARD
& HAYWARD
GARLAND
ELECTRONICS
MARTIN SHEPHERD & CO SOLIC
WORKS
FABRICS GARMENT
CARE STUDIO
DRY CLEANING
REGENT`S MARKET
NEWSAGENT
CARTERS
CHEMIST
PO
POST OFFICE
CARGO
ALL ABOARD
DIAMOND
W CHANNON
RICHARD PETERS
OPTICIANS
FIVE STAR
MID EAST REST
BOULANGERIE
JOIE DE VIE
BENGAL BERTIE`S
INDIAN RESTAURANT
FINISHING TOUCHES
HABERDASHERY
SAM`S CHICKEN
TAKE AWAY
THE GREEN SHOP
GROCER
BRAGGS
CHILDRENS WEAR
NATURAL HEALTH
HEALTH FOOD
BECKETTS
ESTATE AGENTS
ADAM HAYES
ESTATE AGENTS
THAI 10
BEAUTY SALON
COMPUTER REPAIR CENTRE
315 - 317
319
367
CHARITY SHOP
ESTATE AGENT
EST AG
DOMESTIC APPLIANCES
HOUSEHOLD GOODS
(2 RETAIL FLOORS)
VACANT
DENTAL
SURGERY
CHARITY SHOP
PHOTO GOODS
LOCKSMITH
VACANT
CLEAR BLUE GLAZING
CAFE MELANGE
UNIT 2
321
323
325
333
331
327 - 329
335
RAMP FROM CAR PARK
339
337
VACANT
345
343
341
ENTRANCE ENTRANCE
100
353
351
16 - 19
775
773
ALDI
P
EURO CAR PARKS
767 - 769
751
361 365
359
771
MISA NAILS
BEAU SAL
REZARA
PIZZA &
CHICKEN
T/A
THE LONDON
GOLD
FACTORY
PAWNBRO
ESFAHAN SUPERMARKET
GROCER
DA LILLO
HAIR O
DYENAMIX
HAIR
SUBWAY
REPORT CLOTHING
ESSENSUALS
SURPRISE
SURPRISE
SHOE ZONE
HOLLAND
& BARRETT
HEALTH FD
SELENE
BOUTIQUE
CLOTHING
RESHAM
BROADBERRY
SHOES
XOTICA
TATTOOIST
FRESH CUT
HAIR
A1 CAFE
VACANT KWIK SAVE
KHOAI CAFE
ASIAN RESTAURANT
ARI FOOD CENTRE
GROCER
LONDON
BEAUTY
CARE
SUPERMARKET
&
759 - 761
763 - 765
367
363
349 355 - 357
757
753
753
369
368 - 372
BALLARDS LANE
362 - 364
366
380
378
374 376
PIZZA RESTAURANT
ARTS DEPOT
THEATRE
382
GRAND ARCADE
4
BATH
POTIONS
GIFTS
VACANT
VACANT
VAC
758
756 754
LETS LEARN
SANDWICH BAR
GOLD
LEAF
JEWELLERS
ACE TONES
MUS INST
&SH MUS
MENS WEAR
752 750
CLOTHING
PADDY POWER
BET OFF
HAIRDRESSING
748
SILK ROUTE
VAC
THE INDIE
GUITAR CO.
EEKS
ON
ELS
OMP
QUIP
746
744
HAIRCODE
INDIAN RESTAURANT
BRIVEL HAIR
SUN CITY
740 - 742
HAIR
9
15 14 13 11 10
2
12
NETHER STREET
TALLY HO CORNER
8
749
7
738
GROCER
P
POUNDLAND
DISCOUNT STORE
EURO DIAMOND JEWELLERS
GALBRAITH BRANLEY
SOLICITOR
730 - 732
ENJOY
CAFE
ARCADE
FURNITURE
BOOTS OPTICIANS
ROBERT DYAS
VARIETY STORE
VACANT
CLARKS
SHOES
SHOES
BAGS ETC
TALLY HO NEWS
N/A
WILLIAM HILL
BETTING OFFICE
GOOGOOSH RESTAURANT
736
745739 737
743
734
733
5
731
728
727 - 729
726
HIGH ROAD
6
724
CHOPSTIX
722
4
CHINESE RESTAURANT
3
POMILO
720
713
2
CLOTHING
HALLMARK
718
1
CARDS & GIFTS
GREGGS
716
BAKER
B H F
714
VACANT
BATHSTORE.COM
BATHROOM
FURNITURE
CHARITY SHOP
HUSEN MODA
712
CLOTHING
710
PRESTON
TRAVEL AGENT
FAIRMONT SPA
BEAUTY SALON
VACANT
706 - 708 706 702 - 704
ARGOS
VACANT
P
CATALOGUE SHOWROOM
fl oors on a site of approximately KINGSWAY 0.11 acres (0.045 hectares).
ODGE
ENT
(PEDESTRIANS ONLY
EXCEPT LOADING 4.00PM - 10.00AM)
(274) (ACTUAL)
UNDER
TALLY HO CORNER
PP HH
GARDEN GARDEN
THE TALLY HO
PUBLIC HOUSE
J D WETHERSPOON
SERVICE YARD
ENTRANCE
SERVICE YARD
ENTRANCE
RAMP TO
CAR PARK
ENT
741
735
(50) (ESTIMATED)
STANHOPE ROAD
OPTIMUM
NATUR
THPY
FITNESS FIRST ENT TO HEALTH CLUB
STORE TWENTY ONE
CLOTHING
698 - 700
696
688
686
694
692
LADBROKES
BETTING OFFICE
MAZE MAZE
MID EAST REST
CASH BROKERS
690
GLAMOUR HAIRDRESSING
& BEAUTY
TALLY HO FISH
RESTAURANT & TAKE AWAY
684
THE FINCHLEY TAVERN
PUBLIC HOUSE
682
NORTH FINCHLEY
FISHMONGER
680
(34) (ACTUAL)
678
WELCOME
CHINESE REST
© Crown Copyright, ES 100004106. For identifi cation purposes only.
The area hatched in red is owned by the London Borough of Barnet and used by J D Wetherspoon
by way of an agreement. Further details can be provided upon request.
Description
676
FINCHLEY
CHARCOAL GRILL
TAKE AWAY
99P PLUS
HO GDS
674
CASTLE MEWS
AREHOUSE
VACANT
CAROLINE`S
HAIRDRESSING
The property is a three storey detached period building of brick construction
1
14 - 16
SEA ROCK CLUB
INDIAN REST
BUS PASSENGER
WAITING AERA
90
under a pitched tiled roof arranged over basement, ground and two upper
The property comprises a large public house over ground and part-fi rst fl oors
with ancillary storage to the basement and a kitchen to the fi rst fl oor. The
second fl oor provides residential accommodation which comprises two one
bedroom fl ats and one three bedroom fl at, which have seperate access.
Accommodation
Sq M Sq Ft
Basement Cellar / Storage 267.34 2,878
Ground Floor Bar / Ancillary 340.14 3,661
First Floor Bar / Ancillary 230.07 2,477
Second Floor Residential 167.78 1,806
Total 1,005.33 10,822
672
VACANT
5
27
WALLERS GARAGE
A E GEARY
BUILDING CONTRACTOR/SERVICES
7
LAMBERT WAY
VACANT
BELVERDE
CAFE
AL MANSOOR HALAL MEAT
GROCER
9
13
EXPRESS DRY CLEANING
& LAUNDERETTE
11
MELVILLE HOUSE
CAR REPAIRS
CRAZY DISCOUNTS FURN
MINICAB
TAXI HIRE
15
17
DWELLINGS
Tenancy
19
DENT SURGY
21
P
(30) (ESTIMATED)
ASHFIELD
NURSING HOME
23 - 25
CASTLE ROAD
Residential Opportunity
Whilst the property is entirely let to J D Wetherspoon plc, the three residential fl ats benefi t from seperate access to the southern elevation.
North Finchley is a sought after residential location and the property occupies a very prominent island site providing good natural light.
Capital values for refurbished residential accommodation above commercial property are in the region of £450 psf.
This underpins a longer term residential conversion subject to necessary consents.
The property is let in its entirety to J D Wetherspoon plc
(t/a The Tally Ho) on a 35 year full repairing and insuring lease
from 31st March 1999 at a current rent of £144,282 per annum.
The lease is subject to 5 yearly upward only rent reviews with
the next review due on 31st March 2014. The lease is subject
to a tenant option to break on 30th March 2029, therefore
providing approximately 16.5 years term certain.

The Tally Ho, 749 High Road,
North Finchley, London N12 0BP
Tenure
Freehold
Covenant Information
J D Wetherspoon plc is a FTSE 250 company and one
of the largest UK pub operators with more than 800
pubs and hotels nationwide.
For the fi nancial year ended 29th July 2012, J D
Wetherspoon plc reported a 7.6% increase in turnover
to £1,197,129,000 (2011: £1,072,014,000) and a
pre-tax profi t of £58,882,000.
The company continues to expand having recently
announced their intention to invest £35m into 30 new
sites during 2013 which will create a further 1,200 jobs.
J D Wetherspoon plc has the strongest D&B Rating of
5A1 indicating a ‘minimum’ risk of business failure.
EPC
The property has an Energy Performance assessment rating
of 80 (Grade D). EPC certifi cate available upon request.
VAT
The purchase of the property will be subject to VAT
although it is anticipated the property will be treated
as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek offers in excess of £2,370,000 (Two Million Three Hundred and Seventy Thousand Pounds) subject to contract and
exclusive of VAT for our client’s freehold interest. A purchase at this level would refl ect a net initial yield of 5.75% assuming purchaser’s costs of 5.8%
and a low capital rate of approximately £219 per sq ft.
For further information or to make arrangements for viewing please contact:
Dale Johnstone
Mark Gower
Daniel Sterling
020 7543 6796
020 7543 6727
020 7543 6825
dale.johnstone@allsop.co.uk mark.gower@allsop.co.uk daniel.sterling@allsop.co.uk www.allsop.co.uk
Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property
are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations,
warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to:
(a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property;
and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. 02.13