Land for sale in Commercial Road, London E1

£500,000
Land for sale
Interested in this property? Call +44 20 8033 5672 * or Request Details

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Property features

  • Rare freehold land opportunity in East London within close proximity to The City and Canary Wharf.
  • Planning permission approved for a rear extension to provide an additional 3 x 1 bedroom flats arranged over lower, upper ground and first floors.
  • Total accommodation will extend to 1,483 square feet (153 square metres) approximately.
  • Estimated gdv of £1,100,000.

Property description

Rare residential development opportunity in Commercial Road, E1. This freehold land is a cleared site benefiting from planning permission for 3 x flats. We estimate the gdv to be in the region of £1.1m.

Building

The property comprises the land to the rear of 363 Commercial Road with planning for a rear extension to form 3 additional residential dwellings extending to a total of 1,453 square feet (135 square metres) approximately. Once developed the property will consist of 2x1 bed flats arranged over lower and upper ground floors and 1x1 bed flat on the first floor with a total estimated gdv of £1.1m. Please see the planning section of the brochure for more details.

Please note the freehold of 363 Commercial Road will also be included in the sale - consisting of an existing three-storey building adjacent to the land which will be retained on a virtual freehold by the vendor (consisting of two ground floor retail units, 1 x 1 bedroom on the first floor and 1 x studio flat on the second floor). The building is vacant and any element is still available by separate negotiation. The rear site has been cleared so there is no demolition required.

Location

The property is located on Commercial Road (A13) between the junctions of Bromehead Street and Bromehead Road in Whitechapel, London. Brick Lane is 0.7 miles to the west (approximately a 15 minute walk), Liverpool Street Station is 1.4 miles to the west and Shoreditch is within an approximate 30 minute walk (1.4 miles) to the north west. Shadwell station is approximately 0.3 miles away with a regular service into Bank (approximately 3 minutes via the DLR) and Clapham Junction is approximately 35 minutes away by National Rail from Shadwell Rail Station. Aldgate East Underground station, which is on the District and Hammersmith and City lines, is approximately 0.8 miles to the west. The area is served well by numerous bus routes for access into the City of London, West End and Canary Wharf.

VAT

We understand the property is not elected for VAT.

Property info

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For more information about this property, please contact
Harston&Co, E4 on +44 20 8033 5672 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Harston&Co, and do not constitute property particulars. Please contact Harston&Co for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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