Sir Tim Martin, 69, started life in 1955 in Northern Ireland; his father worked for Guinness and he soon followed in his father’s footsteps.
Although Sir Tim studied law at Nottingham University and qualified as a barrister, he decided to go into the pub business. He believed he could run his own pub and first bought it in North London at the age of 24.
It was 1979 and the pub in posh Muswell Hill was originally called Martin’s Free House before being renamed Wetherspoon – a reported snub from a previous teacher who said Sir Tim would never become a businessman.
Muswell Hill is now an even more desirable location as it is only five miles from central London but still offers a leafy suburban feel. The main street has independent restaurants and good shops for residents.
Homes in the Muswell Hill area can fetch up to £2.5m for a five-bedroom family home; the cheapest property for sale in the area at the time of writing is a one-bedroom ground floor flat for £275,000. According to Rightmove, the average property price in Muswell Hill last year was £1,018,365.
As Sir Tim’s success grew, more pubs opened in London, allowing him and his now wife Felicity to expand their family unit.
With four children together (the couple now have 10 grandchildren), there could have been an even greater incentive to ensure Wetherspoon’s success.
In 1992, JD Wetherspoon was listed on the stock exchange and by 2000, Wetherspoon’s 400th branch opened its doors to the public.
As most of the pubs are in historic buildings, the JD Wetherspoon pub is characterized by a jazz carpet, extensive menus and affordable prices.
Now JD Wetherspoon plc is worth around £945m on the stock market and Sir Tim, 69, lives a private life in Exeter, Devon with his wife.
According to Rightmove, the UK’s largest property portal, the average house price in Exeter last year was £342,815. The majority of sales in Exeter last year were of terraced properties, with an average price of £310,177. Semi-detached properties sold for an average of £362,035 and flats for £197,214.
However, more luxurious homes can fetch much more. Currently, one Rightmove property with eight bedrooms, 16,684 sq ft, outbuildings and acres of land is on the market for £4 million.
Exeter is an ancient city on the River Exe in south-west England in the county of Devonshire, known for Exeter Cathedral, the most visited landmark in the West Country. The historic town is one of two in the county and is known for its many things to do and see, including a visit to the city’s underground passage and the Royal Albert Memorial Museum and Art Gallery, a world-class museum with wonderful exhibitions and galleries.
Exeter has become a desirable place to live over the years due to its proximity to Dartmoor and the coast.