The Winchester, 206 Archway Road, London, N6 5BA

Description
The property comprises an attractive four-storey building arranged over basement, ground, first, second and third floors. The elevations are of brick beneath a multiple pitched and flat roof, and are complemented by a mix of glazed fenestration.

The public house is arranged over ground and basement and was subject to a comprehensive refurbishment throughout in 2022 by the tenant. The 11 residential flats above are not included in the sale.

Location
Located in the desirable district of Highgate in North London, approximately 5 miles (8 kilometres) north of the West End. The Winchester occupies a prominent position on Archway Road, a busy main thoroughfare linking Highgate to Archway and Holloway to the south and East Finchley to the north.

The property is well positioned within a vibrant residential community, close to a range of shops, restaurants and amenities, and within walking distance of Highgate Wood and Waterlow Park. Highgate Underground Station (Northern Line) is situated 0.2 miles to the north, providing direct services into central London, with numerous bus routes running along Archway Road enhancing connectivity across the capital.

Accommodation
Basement:
The basement provides male and female toilets, beer storage, an office, additional cellar/storage space and a commercial kitchen that is currently under construction.

Ground Floor:
The ground floor comprises a traditional open-plan trading area arranged around a central bar servery. Seating is a mix of fixed and loose tables and chairs, providing approximately 117 covers in total. To the front of the property, The a pavement licence allows for a further 15 covers.

Premises Licence
The property has the benefit of a Premises Licence in accordance with the Licensing Act 2003 the premises are permitted to sell alcohol at the following times:

Sunday to Wednesday: 08:00 - 00:00
Thursday to Saturday: 08:00 - 01:30

Planning
The site falls within the sui generis pub use class. It is not listed, lies outside any prohibitive flood risk zones, and is not situated within a Conservation Area.

The local authority overseeing the site is Haringey Council, and further information can be found on their website:

Tenure
The property is held freehold (Title Number MX201592).

EPC
The EPC has been commissioned and will be provided to interested parties upon request.

Rateable Value
2023 - £11,000.

Tenancy
Freehold. The property is let to The Winchester Public House Limited on a 20-year FRI lease commencing 8 April 2022 and expiring 8 April 2042. The passing rent is £75,000 per annum, subject to five-yearly open market rent reviews.

In addition to the above there are ground rents on the 11 flats above the public house, totalling an income of £5,500pa.

Covenant
The Northern Union Pub Company Ltd. currently runs 5 pubs across north London which include the following:-

- The Winchester, Highgate
- The Haverstock Tavern, Belsize Park
- The Albert, Primrose Hill
- The Crown, Highgate
- The Old White Bear, Hampstead

The tenant can therefore be considered a decent small multiple with some excellently located pubs in north London, whom we understand is seeking to double in size over the next five years.

Guide Price
We are instructed to seek offers in the region of £1,500,000 (One Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT. This reflects a Net Initial Yield of 5.06% after allowing for the usual purchaser’s costs.

VAT
The investment will be sold as a TOGC and will therefore be exempt from paying VAT.

Viewing
For a formal viewing strictly by appointment with Savills.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.