11-13 Upton Lane,
London E7 9PA
Offers in exxcess of £1,850,000
Freehold mixed-use investment with development potential for sale in Forest Gate
Mixed-use investment with redevelopment potential
Two commercial units and 4 apartments
Corner plot, high street location
£60,000 residential income per annum
ERV of £50,000 commercial income per annum
Offers in excess of £1,850,000
The site occupies a high street corner position in Forest Gate and currently comprises of two retail units measuring approximately 305.sqm including basements. There are two self-contained studio apartments on the ground floor rear parts and a further two four-bedroom duplex units that occupy the first and second floors. The property has most recently been rented to one party at £110,000 per annum that were professionally subletting. The site offers significant redevelopment potential that could deliver up to 1500sqft of commercial space and over 10,000sqft of residential living accommodation; we can provide indicative schemes created by Lynas Smith Architects to support this.
The property is located on Upton Lane at the junction with Vale Road, Forest Gate, within the London Borough of Newham. It is centrally located near to many excellent amenities including Stratford International and the Westfield Shopping Centre whilst being just 0.5 miles from the glorious green spaces of Wanstead.
Most significantly, it is just a 5 minute walk to Forest Gate Station which will open on the new Crossrail Line in 2019 by which point significant regeneration is also expected surrounding the station (in conjunction with London Iron Works and Newham Council). Due to the Crossrail effect, Jones Lang LaSalle predicted property price growth from 2015 to 2020 of +41% in the area around Forest Gate Station.
The area is already beginning to see gentrification with the likes of the Corner Kitchen recently opening opposite the station and the Space East Yoga Studios on the ‘Hip’ Cranmer Road. (A detailed list of on goings in the area can be supplied)
The site is highly accessible to sustainable methods of travel, with Forest Gate Station only a 5-minute walk from the property, providing fast links into London Liverpool Street station. The A12, which is 2-miles away, leads out to Junction 28 of the M25 and the nearby A406 connects Forest Gate with North and West London. London City Airport is 4-miles away from the property.
This accessibility will only improve in the future with the introduction of Crossrail (Elizabeth Line) to Forest Gate Station, operational in 2019, bringing faster and more frequent services to central London and beyond. It will then take 4 minutes to Stratford, 12 minutes to Liverpool Street, 17 minutes to Tottenham Court Road, 12 minutes to Canary Wharf and 19 minutes to Bond Street.
Proposed Planning Permission
We understand the sale will not be subject to VAT.
11 and 13 upper parts will now have tenants remaining in situ paying £2,500 pcm respectively under four separate ASTs as detailed in the schedule above. All tenancies end in February 2017.
For internal access please contact a member of the Highfield team.
Unconditional offers in excess of £1,850,000 are invited for the vacant freehold interest, subject to the existing AST’s.
Please note the information provided by Highfield Investments London Limited, trading as Highfield Investments has been given in good faith, however all parties must undertake their own due diligence to satisfy themselves in regards to accuracy.