Freehold mixed-use building with a large yard in Plaistow.
The property comprises a basement and ground floor E class unit with a fenced rear yard. Above the shop across the first and second floors are 4 x two bedroom flats.
This property presents significant development potential, with the possibility of conversion or extension (subject to the necessary planning consents) to maximize its use. It is ideally positioned within a rapidly regenerating area, which offers substantial scope for both capital appreciation and rental growth. Additionally, the basement and ground floor lends itself to alternative uses such as a Day Nursery.
The current rental income is as follows: £55,000 per annum from the commercial retail unit, £66,000 per annum from the four 2-bedroom flats, and £4,800 per annum from the rear yard area. This strong rental income stream makes the property an attractive prospect for investors looking for a steady cash flow while also providing potential for future development.
Location
Located on the bustling Barking Road in the heart of East London, 655 Barking Road offers an exceptional opportunity for businesses seeking high visibility and easy access in a well-connected and diverse area. The property is positioned within close proximity to a wide array of local amenities, including retail outlets, cafés, restaurants, banks, and healthcare services, making it an ideal location for a variety of commercial uses.
The area is well-served by public transport, with Plaistow Underground Station (District Line) just a 6-minute walk away (approximately 0.3 miles), and Canning Town Underground Station (Jubilee Line) around 15 minutes by foot (approximately 0.8 miles). Both stations provide swift connections to Central London, Canary Wharf, and beyond, while the nearby A13 and A12 offer quick access to major road networks for those travelling by car.
In addition to excellent transport links, the property is conveniently situated near several public services, including local schools, parks, and leisure centres, further enhancing its appeal for businesses looking to cater to both local residents and commuters. The nearby Westfield Stratford City shopping centre (approximately 2 miles away) provides an extensive retail and entertainment offering, further adding to the area's vibrant commercial environment.
With its central location, comprehensive amenities, and strong transport connections, 655 Barking Road is an ideal choice for businesses looking to establish themselves in one of East London's most thriving and rapidly developing areas.
Accommodation
655 - (Basement and Ground Floor Commercial) - 227 sq m (2,443 sq ft)
655 Flat B - 57 sq m (614 sq ft)
655 Flat C - 54 sq m (571 sq ft)
655 Flat D - 41 sq m (441 sq ft)
655 Flat E - 50 sq m (538 sq ft)
Rear Yard - 241 sq m (2,594 sq ft)
Terms
TENANCIES:
4 X 2 Bed flats generating £66,000 p.a
GF let to Age UK £55,000 p.a Lease expires in May 2026
Rear is let for £4,800 on a rolling license
Total Income: £125,800
VAT: The site is not elected for VAT.
PROPOSAL: Offers in Excess of £2,000,000