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Home , Highbury, Hornsey, Seven Sisters Road, Stroud Green, Walthamstow

David Baroukh Associates LLP 6A Wimpole Street, , W1G 8AL Tel: 020 7323 1010 Fax: 020 7323 6600 www.dbaprop.co.uk Simeon Cohen 020 7631 2242 [email protected] James Dunitz 020 7631 2245 [email protected] 106 St r o u d Gr e e n Ro a d , Fi n s b u r y Pa r k , Lo n d o n , N4 3EM David Baroukh Prime Freehold Restaurant in 020 7631 2244 N4 [email protected] Investment Summary • Freehold restaurant benefiting from first floor self contained five bedroom flat. • Prominent corner location at the junction of Road, Upper Tollington Park and Tollington Park.

• Located less than 10 minutes walk from Park Underground Station. • Nearby occupiers include 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 benefits from excellent road and public transport communications. Stroud Green Road (A1201) connects to (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 approximately 7.2 km (4.5 miles) south, and the (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 . Finsbury Park Underground (Piccadilly and District Lines) and Rail Stations are located less than 10 minutes walk south of the Property with Overground approximately five minutes walk north. A range of bus routes also provide frequent services from 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. 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 , 2.7 km (1.7 miles) east of Archway, and 2.4 km (1.5 miles) west of . 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, , Holloway, and .

EAST RESERVOIR

Maps Not to scale For Indicative purposes only B150 CROUCH HILL MANOR HOUSE

K R A P Y PARK FINSBUR N O A503 ST R INGT O L UD L WEST

G D R TO A E R RESERVOIR

E O N R

R

O K UPPE

AD C A105

O

T

S D

O B105 O

W

SEVEN SISTERS ROAD G R ARK E ARK A1201 E N

L LORDSHIP P A Y N FINSBUR E A503 S PARK TOLLINGTON P A1201 HORNSEY ROAD

BROWNSWOOD ROAD ARK B105 CLISSOLD P A103 A503

ISLEDON ROAD M25 A1201 G M25 R

HIGHBUR E E N

L A N E A10 S A503 ARSENAL Y P SEVEN SISTERS ROAD A103 ARK B104 N ORTH CRCULAR ROAD A503 A105 A1 A406

HORNSEY ROAD HOLLOWA406 M11 AY ROAD A503 TOTTENHAM

M1 ARSENAL A1 FC A113 A1 A504 M25 A406 A105 A10 A1 A1201 A103 A503 A41 HARRINGAY GARDEN A12

CROUCH HILL FINSBURY A107 PARK HAMPSTEAD STOKE HEAT H FINSBURY A107 NEWINGTON A1 PA RK A406 A503 A1201 A10 HIGHBURY A12

D A 106 O R R A41 A A5 A400 L U C HIGHBURY & R HACKNEY C H T R O CAMDEN Stroud Green Road, N Finsbury Park, TOWN London KENSAL A40 A1 GREEN MAIDA HILL REGENT’S N4 3EM A404 PA RK A11 A5 A1209

A40 LIVERPOOL STREET A406 A40 PA DDINGTON CANON STREET A13 LONDON RIVER THAMES HYDE PARK CANNING TOWN KENSINGTON

A406 A308

2 1 A4 M4 CHELSEA

ES THAM A316 RIVER A3 Demographics Situation 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. The property is situated on a prominent This jointly represents 47.8% of the urban population compared corner site at the junction of Stroud to the Great Britain average of 39.4%. Green Road, Upper Tollington Park Mosaic Consumer Classifications have recorded 31.39% of and Tollington Park in a well established Haringey’s Urban Area as Urban Intelligence (young, single and retail pitch. Nearby national multiples mostly well educated individuals with cosmopolitan tastes and include Tesco Metro, JD Wetherspoon, liberal attitudes), significantly above the Great Britain average Post Office, Coral and William Hill. of 7.35%. The area is characterised by a range

of retail operators including local Banking, Finance and Business Services account for 26.60% restaurants, cafes, estate agents of the Borough’s Travel to Work Area, significantly above the and residential users. Great Britain average of 17.50%.

Accommodation Sq M Sq Ft Description 184.11 1,982 Dining area, kitchen and disabled toilet Ground Floor 86.45 930 Basement Two cold stores, office and staff room and customer and staff toilets 124.63 1,341 Ground Floor ITZA No access First Floor Self contained five bedroom flat with kitchen and bathroom 270.56 2,912 Total excluding First Floor

Areas are net internal and are provided from our client’s management records Green Road ark-Stroud FinsburyP

1 T E 3 O L N 7 H S R F Y A M A T I T U L E T E T H S 1 P A F C I 3 R I S I H 5 S E T T C M A H L L E E S B A P U N H L N 1 E O N I 3 E C A O 3A 8/9/2010 E H R l2 N L H ta U E Digi R A T O I C 1 Goad G D S 3 E H M 1 Y AN T S E I T 4 R T 2 N 1 N K N 2 U SU O U 2 C A E 9 A G A O R N & E A L U O E B P T LD IN A G R N P N 1 T A A O 2 A A 5 S P B G P - E R 1 B GO P A N 2 3 A R A P U 7 3 I R P P A O 1 R T I E A E E R S L S N Z P M A E I U O 1 Z B A E 2 I I R T 3 P T O O R A I R H P R E Z H Y Z Z O A 1 I S 2 Z C A 1 I P W I B E M R 2 P L W F E F E E A L E B L A F 1 H H C A 1 O U T A 9 T T D E N C S P E E O K E Y 1 S Y 1 W O A N E 7 I L U A N T T L T N D Y N O ’S G W A E A I K S O U H A AN S I R C W R D I C E C O NNYA A M E E F D R A E E K K C F VA T K W R N A A O A A GR S T 1 T A E C 4 N G M E N S E P N 1 R A I 6 M R P T 1 1 O I T 05 7 D A N E - 1 H B 1 8 19 CH - 1 O O A 9 R T R T T E TE E K R G M R C A O N O U I M R C 1 T S R 0 L E E 5 P L T A U I 1 P R 0 S H 3 O O A E C S T E E R T U W T IS U I 1 R B S H 0 E P L 1 R R E E 9 DI E T N T 9 T I S E A L H N I E L S E L R I R P F E 9 Z 7 H G E H P S S N S T H I E F E O O 9 N C R M R P 5 U A F S H O & R S Y E I T O U C F S O E S 9 D N T 3 A K N D N T A S T T O G R E 9 A S E F V R 3 M K A N E L N O E R T S R O 4 H C E Y U A T 1 C O R 9 0 O E W S 1 6 B E I U R O L T T L R 8 L I G L L IL E 9 N E F O A U N A H C Y A C N L I L C N V R E G F N U M F A 8 A F E F E 7 S S A IT S V CE R I O R I Y C L F S E S 1 L T G E R L O H E 0 I G T L T 4 F E M P P N R A N LUX IF STANBUL T W I O R O U C A E O N T I T 1 R E O L H G 0 P T IS G E V E C A 2 S N T R D JUNIOR O A D A EA B H E L D N L T 8 1 T F C 5 00 T N A A A S A O T R T E S L S S I K U V E E E I G 8 9 E A A V A 3 8 T T D A D T N S E S D S AND 8 O S G 8 P E T & E B E RS 7 H IN 1 9 R 1 H E R L 4 IX A C P N TO V X A E S - F C O E A I O E F E G 9 L F N F L H R 7 6 ACHOM A F E C R A 9 I E C PARTNERS R S Y I O T I C H R M SOLICIA E D 6 M S S 9 R & D E E T 7 2 H P I IR 7 V T 7 S A T T 1 A N B N E E R IS A H G S O R A K T S T E 9 N R R A I R U 7 0 I T L A IC 5 VACANT M U A K 4 E TA S Y E S F A M 7 T S B Y M T A T E F 8 R G T R 1 AD G I E A A 7 8 U S R N D R B 3 E E E G O W H E N N E I E P U L A I IN T A A R U S T 2 F K E 7 D A H E C S T U 7 T T C T G K I 1 P E 8 N O 1 O RN IN A F E A F L S T T 4 E T I L T K F IT G S I E A E D N N N T O H IN O 0 H G C C L A S 7 & C W R N N T AF T 8 A O 1 O C O 2 A E O R F E U 6 W N E H N 9 V O L C T F I S O A A T 8 IC P Y N E C S T 8 S E N 6 D E T L Y B Y H P R T 0 Y E G 1 N A N 6 C R S N E N W K N G T E T A E 7 D W E P 7 E O O O A N S L C G 8 H O T 6 N O H I A A R A T T E R G 5 B T E V P E N N N L N N 7 A S T A 6 A A E T I A E E T L L C & T E R R 6 S P G S A R O E 3 E N E V G T C O I IR 7 D D S O 4 M R 6 S T U D R E 1 G H T T O O H T O S C N R S F A C E E Y K T F K A 5 O R 9 U C W B E I U P H A R C E E D 4 D K G 5 E A D N 7 6 P I T N I G 1 A R A H P R F T W R U K X O E E B T E O B F 5 L A L L A 5 E IC V A C N 2 E I C Y N 6 H R N A T L 1 V O N R E U E U A 5 R S H E A S 3 T E O S P H E U S U E T B E T A R A L N G T A Y S & E A 5 D B D R 1 IR A U & U A A G T H R S S 49 I E A O Y L R D M H FUTURE U T HOMES O A E R R E T M H S L C 4 A T 7 L U E A B F E 4 H A F 5 C A N T C E A A T / N A T E B N Z N 4 R E IA 3 E M D T T E N A N I R 4 I H E 1 T M HE S IE T S C S T V I N A M A U D E B H R H 3 K E C 9 G E O R O R U E 3 T G 7 I 2 R N U T IR R I Y D U N HA L F R UT R U A 3 O F MY 5 K W A T G AND BE P E K R 3 A 3 M 45 metres Covenant The original Nando’s restaurant opened in South Africa in 1987 and the company has now grown to operate from over Tenure 25 countries globally. Freehold The first Nando’s in the UK opened in 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 Tenancies people. There are plans to expand further this year with the opening of at least 17 new restaurants. The property is let in its entirety to Nando’s Nando’s Chickenland Limited is rated by Dun & Bradstreet Chickenland Limited for a term of 25 years as 4A1 (a minimum risk of business failure). The 2009 from 1 July 2004 providing an unexpired accounts show a tangible net worth of £25.303m. The company has recorded both an increasing turnover and term of 18.75 years. The current rent net worth in each of the last three years. A summary of their passing is £87,684.14 per annum. The lease financial accounts is shown below: benefits from five yearly open market rent Nando’s reviews the next being on 1 July 2014. Chickenland 22/Feb/2009 24/Feb/2008 25/Feb/2007 Limited £ 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 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.

SUBJECT TO CONTRACT AND EXCLUDING VAT 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.

Misrepresentation Clause David Baroukh Associates for themselves and for the vendors or lessors of the properties whose agents they David Baroukh Associates LLP are give notice that:- 6A Wimpole Street, London, W1G 8AL 1. All particulars or properties provided are given as a general outline only for the guidance of intending 020 7323 1010 purchaser, lessee or tenant, and do not constitute, nor Tel: constitute part of, an offer or contract. Fax: 020 7323 6600 2. Whilst all particulars of properties given including but not Viewing www.dbaprop.co.uk 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 Simeon Cohen faith, they are however given without responsibility on the 020 7631 2242 part of David Baroukh Associates or the vendors or lessors as the case may be. [email protected] 3. None of the statements contained in any particulars is to be relied upon as a statement or representation of fact. James Dunitz 4. Any intending purchaser or lessee or tenant should 020 7631 2245 not rely on any particulars provided by us and must satisfy themselves by inspection or otherwise as to the [email protected] correctness of each statement made in such particulars. 5. The vendor or lessor (as the case may be) does not David Baroukh make or give and neither David Baroukh Associates nor 020 7631 2244 any person in their employment has any authority to make or give any representation or warranty whatever in relation [email protected] to any properties.

October 2010