Worst House on the Street Logo
21-23 Hackney Grove, Hackney, E8 3NR - Image 1
21-23 Hackney Grove, Hackney, E8 3NR - Image 2
21-23 Hackney Grove, Hackney, E8 3NR - Image 3
21-23 Hackney Grove, Hackney, E8 3NR - Image 4
21-23 Hackney Grove, Hackney, E8 3NR - Image 5

21-23 Hackney Grove, Hackney, E8 3NR

London

£1,000,000
Listed on 23/02/2024

Property Details

Bedrooms
N/A
Type
Detached house
Area
2854 sqft

Description

This commercial building, currently designated with F1 (Education) Use Class, offers a unique opportunity for those looking to invest in an area with significant potential. Spanning the lower ground, ground, and first floors, the property is in need of modernization but presents numerous avenues for redevelopment, including the possibility of converting it to residential use (subject to planning permission). Access is conveniently provided via Florfield Road at the rear. Nestled within London Fields, this property benefits from its location on a pedestrian-friendly street that also accommodates cyclists. The surrounding neighborhood boasts a vibrant mix of trendy cafes, stylish bars, diverse restaurants, boutique shops, and lively markets, making it a desirable spot for both businesses and residents alike. Proximity to Hackney Central station enhances its appeal further, as it allows for quick access to other parts of London. As noted in the 2023 Valuation Office Agency's assessment, the property has a rateable value of £10,250—signifying its potential as a solid investment in a dynamic area poised for growth.

Investment Analysis

(E8 area)

Below Market Value

This property is priced -57.4% below area average per sq ft

-57.4%
Potential saving
This Property
£350/sq ft
Area Average
£823/sq ft
Avg Rent (weekly)
£539
Avg Yield
4.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Target Value
£2,583,726
10% above area average per sq ft
Potential ROI
+106.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
26
Average per month
Market Turnover
12%
Properties sold annually

Local Market Trend (E8)

Area prices are falling by +8.1% over the last 12 months
3 year growth: -0.9%
5 year growth: 2.4%
Investment Disclaimer: Analysis based on E8 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

21-23 Hackney Grove, Hackney, E8 3NR
Loading map...

Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£3,663
Based on a loan of £750,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Next Steps

Explore services to help you with this property purchase.

Need a survey for this property?

Book a professional assessment to identify potential issues and property condition

RICS qualified surveyors

Need a mortgage for this property?

Explore personalised financing options tailored to this property

No obligation, free consultation

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE