This freehold mixed-use property presents a unique investment opportunity on New Road, E1, featuring a vacant ground floor commercial unit with promising rental prospects. Above, you will find eight self-contained one-bedroom apartments spanning four floors, currently occupied by tenants which ensures immediate cash flow. Additionally, a basement area offers further development potential, while there is significant room to extend the building at the rear (subject to planning permissions). Detailed floor plans are available for review, showing both the layouts of the commercial space and an example of one of the available flats.
Current annual income from the property stands at £135,380, with potential growth to approximately £210,300 through strategic adjustments like increasing rental rates for the flats that are presently below market value. The commercial unit could generate between £20,000 and £25,000 annually once let. Moreover, with improvements to the basement area estimated to produce an additional rental income ranging from £35,000 to £50,000 per year post-development.
Located conveniently near essential transportation hubs such as Whitechapel Station and Aldgate East Station—both providing access to major lines including Crossrail/Elizabeth Line—this area is also surrounded by vital amenities including Queen Mary University of London and Royal London Hospital. This property stands as an exceptional investment with both immediate returns and expansive future development options in a rapidly growing sector of East London.
