>
11 & 13 New Road, London, E1 1HE Residential development for sale
11 & 13 New Road, London, E1 1HE
£2,850,000
11 & 13 New Road, London, E1 1HE
£2,850,000
Our Summary
- Havilands are delighted to present a RARE FREEHOLD MIXED-USE DEVELOPMENT OPPORTUNITY on New Road, E1
- This substantial property comprises: Ground floor commercial unit (currently vacant, offering strong rental potential)
- Basement area with scope for development
- Significant potential for further expansion to the rear elevation (subject to planning permission)
- Rental & Income OverviewCommercial Unit: Currently vacant, with rental potential of £20,000 – £25,000 per annum
- One-Bedroom Flats: Currently let at below-market rental values, presenting considerable scope to increase returns
- This is an exceptional investment opportunity offering a blend of immediate rental income and significant development potential in one of East London’s most dynamic growth areas
- Two Basements with Scope for Development and Rear Elevation (STPP)
- Unique Development Opportunity
Description
This rare freehold mixed-use development opportunity in East London's vibrant growth area presents a unique blend of immediate rental income and significant development potential. The property comprises a ground-floor commercial unit, currently vacant, with strong rental potential of £20,000-£25,000 per annum, as well as eight self-contained one-bedroom flats across four floors, all let to tenants with below-market rental values, offering considerable scope to increase returns. The basement area also has development potential, and the rear elevation has scope for expansion, subject to planning permission. The property benefits from excellent transport links, including Whitechapel Station and Aldgate East Station, and is close to Queen Mary University, Royal London Hospital, and bustling amenities along Commercial Road. With a combined current annual income of £133,380 and potential annual income of £208,380, this is an exceptional investment opportunity for those looking to capitalize on East London's growth and development.