Summary - 13, NEW ROAD, LONDON E1 1HE
8 bed 8 bath Residential Development
Immediate income with sizeable refurbishment and development upside near Crossrail.
Vacant ground-floor commercial unit with strong rental potential
Eight one-bedroom flats let, providing immediate income in-situ
Current combined income £135,380; potential £210,300 annually
Basements and rear elevation offer development scope (STPP)
Residential rents currently below market — uplift opportunity
Period mid-terrace likely needs M&E upgrades and refurbishment
High local crime and area deprivation are material considerations
Very slow broadband speeds may affect tenant appeal
This rare freehold opportunity comprises a ground-floor commercial unit (vacant) and eight one-bedroom flats currently let, providing immediate rental income in a central East London location. The building sits close to Whitechapel and Aldgate East stations, with fast Crossrail access and strong long-term demand from students, hospital staff and city workers.
The asset offers clear value drivers: below-market residential rents that can be increased, estimated uplift from developing two basement levels, and potential extension to the rear subject to planning (STPP). The commercial unit also offers standalone rental upside once re-let.
Buyers should note material considerations: the area records high crime levels, the wider neighbourhood is relatively deprived, and broadband speeds are very slow. The building is period stock likely requiring internal refurbishment and mechanical/electrical upgrading to reach the EPC potential and modern rental levels.
This property suits an investor or small developer targeting immediate income with medium-term capital uplift through refurb, rent review and modest development. Financial projections provided indicate sizeable potential income growth, but any scope for extension depends on planning consent and additional investment in basements and services.
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