Retail premises for sale in Commercial Road, London E1

Key Points

Description

The property comprises of a large basement (1509 sqft), ground floor (1722 sqft) and first floor (1683) retail unit and has been used by the same owner-occuupier for over 40 years.

Planning permission pa/19/02300/A1: For the construction of a second, third and fourth floor extension and change of use of first floor to C3 (Residential use) to accommodate seven flats. Alterations to the ground and first floor facades. Permission granted April 2020.

Viewings

Strictly via Stirling Ackroyd

Tom Allen Tom Morrissey

Location

Prominent corner site on the junction between Commercial Road and Turner Street. The development benefits from the proximity of Aldgate (0.7 miles) and Aldgate East (0.5 miles) underground stations and Whitechapel station (0.4 miles).

Whitechapel has become one the most saught after locations for developers in recent years, it's resurgence is part of a broader trend that has seen renewed investment and interest in East London.

Whitechapel is currently in the middle of a 15-year regeneration effort as set out by the £300m Whitechapel Vision. Projects underway include a new Town Hall, an extension to the Queen Mary University, seven new public spaces and more.

E1 has an adbundance of vibrant independent restaurants offering a wide range of global cusines, while Brick Lane's famous mile-long stretch of curry houses and beigel bakeries is a 10 minute walk away.

The area also has a thriving cocktail bar scene along with plenty of traditional pubs that ooze East End character and history.

Terms

Unconditional offers invited at £3,000,000 for the freehold site with vacant possession.