106 STROUD GREEN ROAD, FINSBURY PARk ... - DBA Properties

106 St ro u d Green roa d, Fi nS b u ry Park, Lo n d o n, n4 3eM
Prime Freehold restaurant in north london
N4

Investment Summary
• Freehold restaurant benefiting from first floor self contained five bedroom flat.
• Prominent corner location at the junction of Stroud Green Road, Upper Tollington
Park and Tollington Park.
• Located less than 10 minutes walk from Finsbury Park Underground Station.
• Nearby occupiers include Tesco Metro, JD Wetherspoon, Post Office, William Hill
and Coral in addition to a number of local cafes and restaurants.
• Let on an overriding lease to Nando’s Chicken Land Limited with 18.75 years
unexpired.
• Passing rent of £87,684 per annum.
• Offers are invited in excess of £1,580,000 reflecting a Net Initial Yield of 5.25%
subject to contract and exclusive of VAT.
Communications
Finsbury Park benefits from excellent road and public transport
communications. Stroud Green Road (A1201) connects to Seven Sisters
Road (A503) which leads to the A10 approximately 3.2 km (2 miles)
east and the A1 approximately 1.3 km (0.8 miles) west. The A10
provides direct access to Central London approximately 7.2 km
(4.5 miles) south, and the North Circular Road (A406) approximately
4.3 km (2.7 miles) north. The A1 leads to City Road (A501)
approximately 3.5 km (2.2 miles) south providing access to Mid Town
and The City, and north to the A406 6.8 km (4.2 miles) away which in turn links
to the M1 Motorway.
Finsbury Park Underground (Piccadilly and District Lines) and Rail Stations are
located less than 10 minutes walk south of the Property with Crouch Hill Overground
approximately five minutes walk north. A range of bus routes also provide frequent
services from Finsbury Park Station to North and Central London.
Description
The property comprises a prominent early twentieth century end of terrace
corner building arranged over two storeys with basement.
Nando’s have fully fitted out the ground floor as a
restaurant in line with their standard corporate style,
including fully fitted feature kitchen and disabled toilet.
The unit benefits from return frontage to Upper Tollington
Park, and covered outdoor seating area fronting Stroud
Green Road. The basement provides two kitchen cold
stores, staff room and customer and staff toilets.
A five bedroom self contained flat with kitchen and shower
room is situated on the first floor and is accessed via Upper
Tollington Road.

A41
A1
A404
A406
Location
Finsbury Park is located in the Borough of Haringey approximately 6.4 km
(4 miles) north of Central London, 4.8 km (3 miles) south of Tottenham, 2.7 km
(1.7 miles) east of Archway, and 2.4 km (1.5 miles) west of Stoke Newington.
The area has benefited from significant investment to the public park
and Finsbury Park underground station in recent years and is a popular
residential location for young professionals.
Immediate surrounding centres to the area
include Manor House, Highbury, Holloway,
Upper Holloway and Hornsey.
A5
Maps Not to scale
For Indicative purposes only
MAIDA HILL
HAMPSTEAD
GARDEN SUBURB
A40
KENSINGTON
A41
A1
HAMPSTEAD
HEATH
A5
PADDINGTON
PADDINGTON
HYDE PARK
A308
HORNSEY ROADHORNSEY ROAD
A1
CROUCH
HILL
M25
REGENT’S
PARK
A103
A406
A503
HOLLOWAY ROAD
A504
A400
A1201
LONDON
STROUD GREEN ROAD
SEVEN SISTERS ROAD
A1
A1
TOLLINGTON PARK
A503
CAMDEN
TOWN
A103
A103
HARRINGAY
CROUCH
HILL
A503
A105
HARRINGAY
UPPER TOLLINGTON PARK
A503
A503
FINSBURY
PARK
FINSBURY
PARK
A1201
HIGHBURY
HIGHBURY &
ISLINGTON
A1
RIVER THAMES
A107
CANON STREET
A10
B150
WOODSTOCK ROAD
A1201
FINSBURY
PARK
ARSENAL
FC
A503
A1201
SEVEN SISTERS ROAD
BLACKSTOCK ROAD
ISLEDON ROAD FINSBURY PARK
NORTH CRCULAR ROAD
A503
LIVERPOOL
STREET
TOTTENHAM
STOKE
NEWINGTON
A10
A1209
A10
A107
ARSENAL
A406
HACKNEY
A11
A503
B105
A1201
HIGHBURY PARK
WALTHAMSTOW
A13
A12
MANOR HOUSE
A105
GREEN LANES
BROWNSWOOD ROAD
M25
A12
WEST
RESERVOIR
A113
GREEN LANES
M11
CANNING TOWN
LORDSHIP PARK
A105
EAST
RESERVOIR
CLISSOLD PARK
106
B105
B104
Stroud Green Road,
Finsbury Park,
London
N4 3EM

Demographics
The Urban Area of Haringey has a population of over 216,500 of
which 24.7% is aged 18-29 years and 23.1% is aged 30-44 years.
This jointly represents 47.8% of the urban population compared
to the Great Britain average of 39.4%.
Mosaic Consumer Classifications have recorded 31.39% of
Haringey’s Urban Area as Urban Intelligence (young, single and
mostly well educated individuals with cosmopolitan tastes and
liberal attitudes), significantly above the Great Britain average
of 7.35%.
Banking, Finance and Business Services account for 26.60%
of the Borough’s Travel to Work Area, significantly above the
Great Britain average of 17.50%.
Accommodation
Description Sq M Sq Ft
Ground Floor Dining area, kitchen and disabled toilet 184.11 1,982
Basement Two cold stores, office and staff room 86.45 930
and customer and staff toilets
Ground Floor ITZA 124.63 1,341
First Floor Self contained five bedroom flat No access
with kitchen and bathroom
Total excluding 270.56 2,912
First Floor
Areas are net internal and are provided from our client’s management records
Situation
The property is situated on a prominent
corner site at the junction of Stroud
Green Road, Upper Tollington Park
and Tollington Park in a well established
retail pitch. Nearby national multiples
include Tesco Metro, JD Wetherspoon,
Post Office, Coral and William Hill.
The area is characterised by a range
of retail operators including local
restaurants, cafes, estate agents
and residential users.

T
125 - 127 123 121 119
THE WHITE LION
OF MORTIMER
PUBLIC HOUSE
WETHERSPOON
MIS NOODLE BAR
TAKE AWAY
CAFE
CONTINENTAL 2
CAFE
Tenure
Freehold
DUDLEYS
PANCAKE HOUSE
TAKE AWAY
117
CORAL
BETTING OFFICE
TESCO METRO
105 - 119
SUPERMARKET
Tenancies
UTOPIA
LADIES WEAR
HI TECH
ENTERPRISES
TEL BUR
CHEZ LILINE
FISH REST
FRANCE FRESH FISH
FISHMONGER
K STORES
CONV STO & PO
The property is let in its entirety to Nando’s
Chickenland Limited for a term of 25 years
from 1 July 2004 providing an unexpired
term of 18.75 years. The current rent
passing is £87,684.14 per annum. The lease
benefits from five yearly open market rent
reviews the next being on 1 July 2014.
105
103
101 99
VALUE 4 MONEY
HO GDS
14
VACANT
M C FRUIT BASKET
GREENGROCER
SUNFLOWER
GALLERY
FLORIST
WILLIAM HILL
BETTING OFFICE
GRANNY’S
TAKE AWAY
SMART DESIGN
MENS WEAR
97 95
89
162
16 17 18 - 19
CHARTER COURT
93
164
93A
FLAVOUR OF ITALY
DELICATESSEN
PARK TAVERN
PUBLIC HOUSE
VET SURGY
91
DOREEN
HAIR
87
CHRISTOPHER
CHARLES
ESTATE AGENT
D PATEL
NEWSAGENT
THE COFFEE
HAVEN
COFF SH
VAROSI LETTING
ESTATE AGENT
ADNI INTERNET CAFE
TOLLINGTONS
FISH & CHIPS
OFFICE
168 170 172
TOLLINGTON PARK
174
176
178
85
DAVIES
& DAVIES
EST AG
UPPER TOLLINGTON PARK
BOND
EXPRESS
DRY CLEANING
106
MICHAEL
MORRIS
EST AG
NANDOS
RESTAURANT
CATS CAFE DES ARTISTES
THAI RESTAURANT
104 102
VACANT OUTLET
OFFICE
LUX I STANBUL
OFF LICENCE
KING KEBABS
TAKE AWAY
Covenant
83
81
100 98
92 88
77 75 73 71 69 67 65
79
D JUNIORS
OFFICE
VACANT OUTLET
ATLAS PROPERTY
LONDON
ESTATEAGENT
94 - 96
PETEK
RESTAURANT
DINGLIS PROPERTY
ESTATE AGENT
ACHOM AND
PARTNERS
SOLICITORS
90
VACANT
HAIR
SPECIAL FIX
HAIR
STOUD GREEN
FOOD STORE
GROCER
VACANT
84
63
KASHMIR
BUTCHER
PERFECT
FRIED CHICKEN
TAKE AWAY
HUMMINGBIRD
RESTAURANT &
SUPERMARKET
61
82
59
STEPHEN ALEXANDER
CLOTHING
DENT SURGY
80
THE RAINBOW
CAFE
VACANT OUTLET
78
57
SNOW WHITE
CLEANERS
DRY CLEANING
76
55
MY HAIR & BEAUTY
HAIR & BEAU SAL
NEW BEACON
BOOKS
74
LOS GUADALES
RESTAURANT
ANTHONY
& ANTHONY
ESTATE AGENT
STROUD GREEN ROAD
The original Nando’s restaurant opened in South Africa in
1987 and the company has now grown to operate from over
25 countries globally.
The first Nando’s in the UK opened in Ealing in 1992. The
chain has since successfully expanded nationwide taking
market share from fast-food restaurants. The company
now trades from 233 restaurants and employs over 7,000
people. There are plans to expand further this year with the
opening of at least 17 new restaurants.
Nando’s Chickenland Limited is rated by Dun & Bradstreet
as 4A1 (a minimum risk of business failure). The 2009
accounts show a tangible net worth of £25.303m. The
company has recorded both an increasing turnover and
net worth in each of the last three years. A summary of their
financial accounts is shown below:
Nando’s
Chickenland
Limited
22/Feb/2009 24/Feb/2008 25/Feb/2007
£ 000s £ 000s £ 000s
Turnover 230,857 186,642 142,505
Pre Tax Profit 7,818 11,849 9,779
Net Worth 25,303 20,288 12,549
For additional information, please see www.nandos.co.uk
53
51
FUTURE
HOMES
49 45 43
STROUD
HALAL MEAT
BUTCHER
PERTH ROAD
47
NETCAFE
INTERNET CAFE
THE MEZBAAN
INDIAN T/A
KHANS MEAT
BUTCHER
41
ROGER DAVIES
CHEMIST
FUR

David Baroukh Associates for themselves and for the
vendors or lessors of the properties whose agents they
are give notice that:-
1. All particulars or properties provided are given as
a general outline only for the guidance of intending
purchaser, lessee or tenant, and do not constitute, nor
constitute part of, an offer or contract.
2. Whilst all particulars of properties given including but not
limited to descriptions, dimensions, references to condition
and necessary permissions for use and occupation and
maps are believed to be correct and are given in good
faith, they are however given without responsibility on the
part of David Baroukh Associates or the vendors or lessors
as the case may be.
3. None of the statements contained in any particulars is to
be relied upon as a statement or representation of fact.
4. Any intending purchaser or lessee or tenant should
not rely on any particulars provided by us and must
satisfy themselves by inspection or otherwise as to the
correctness of each statement made in such particulars.
5. The vendor or lessor (as the case may be) does not
make or give and neither David Baroukh Associates nor
any person in their employment has any authority to make
or give any representation or warranty whatever in relation
to any properties.
October 2010
Investment Considerations
• Finsbury Park is well located close to Central London and benefits
from excellent transport communications.
• Excellent local demographics with a large young population.
• The property occupies a highly prominent corner location
with return frontage to Upper Tollington Park in an established
retail location with nearby occupiers including Tesco Metro, JD
Wetherspoon, Coral and William Hill.
• Residential surrounds the property offering an excellent retail catchment,
with limited competition from other food operators.
• Let to the secure covenant of Nando’s Chickenland Limited for a further 18.75 years.
Nando’s have successfully expanded their operations across the UK and recorded
increased turnover performance and net worth in each of the last three years.
• Potential to negotiate the surrender of the valuable upper parts – residential capital values
for similar flats in the area are in the region of £450 per sq ft.
• Very strong demand for residential premises to rent in Finsbury Park – rental value for 5
bedroom flats above shops would be approximately £23,400 per annum.
Misrepresentation Clause
SUBJECT TO CONTRACT AND EXCLUDING VAT
Viewing
Planning
We have been advised that the property is not located
in a Conservation Area and is not listed.
VAT
VAT is payable on the purchase price.
Proposal
Offers are invited in excess of £1,580,000 (One Million,
Five Hundred and Eighty Thousand Pounds) reflecting
a Net Initial Yield of 5.25% after standard purchaser’s
costs of 5.7625% subject to contract and exclusive of VAT.
David Baroukh Associates LLP
6A Wimpole Street, London, W1G 8AL
Tel: 020 7323 1010
Fax: 020 7323 6600
www.dbaprop.co.uk
Simeon Cohen
020 7631 2242
simeon@dbaprop.co.uk
James Dunitz
020 7631 2245
james.dunitz@dbaprop.co.uk
David Baroukh
020 7631 2244
david@dbaprop.co.uk