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Connaught Road, Chingford, London

London

£250,000
Listed on 31/07/2024

Property Details

Bedrooms
N/A
Type
Detached house

Description

This open site in Chingford, East London, presents a compelling opportunity for redevelopment and investment. Located just off Connaught Road, the property is well-positioned near Station Road, the vibrant commercial heart of Chingford. The area is home to a variety of retailers including Greggs, Tesco Express, and The Co-Operative, along with numerous dining options like Costa Coffee and Café Nero. Its proximity to Chingford Station (less than 0.2 miles) ensures excellent connectivity for potential office tenants or customers. The site has been cleared of previous structures, with footings already prepared and approved, allowing for a seamless transition into new construction. Planning consent (ref no: 152257) has been granted for a two-storey building accommodating office space on the ground floor (Use Class B1(a)) and ancillary storage on the upper level. With an approximate gross internal area of 1,610 sq ft (149.6 sq m), this development would also include outdoor amenity space—a valuable asset in attracting prospective users. Beyond the current planning permissions, there is additional potential for alternative developments on the site subject to obtaining the necessary consents. This flexibility opens up various avenues for investment, making it an attractive proposition for developers looking to capitalize on the area's growing demand. Access to major transport links via the M25 at Waltham Abbey and the M11 at Loughton further enhances this location's appeal. Given these features combined with its strategic positioning within a bustling commercial zone, this property represents a noteworthy opportunity for renovation or redevelopment in an ever-evolving market.

Investment Analysis

(E4 area)
Area Average
£542/sq ft
Avg Rent (weekly)
£423
Avg Yield
4.1%

Renovation Potential

Est. Renovation Cost
£25,000 - £62,500
10-25% of property value
Monthly Sales
29
Average per month
Market Turnover
48%
Properties sold annually

Local Market Trend (E4)

Area prices are rising by +4.2% over the last 12 months
3 year growth: 9.6%
5 year growth: 22.5%
Investment Disclaimer: Analysis based on E4 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Connaught Road, Chingford, London
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