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

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

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