Another Whitechapel Deal Completed!
The positive effects of Europe’s largest infrastructure project, Crossrail, on property prices across the Capital have been widely reported, with Whitechapel projected to experience increases of over 50% in the next 5 years. This increase in profile combined with the existing benefits of this city fringe location, make it one of the hottest markets in London, with developers and investors keen to acquire a stake in the area.
Kingsbury’s latest deal in this location is the acquisition of 141 – 147 Mile End Road; a 10,000sq.ft. retail warehouse let on short leases to Topps Tiles and HSS Tool Hire. The property offers significant future development potential for a mixed-use scheme, and was acquired off-market for £5.85m on behalf of a Trust fund for whom we regally act on strategic purchases in up and coming locations.
This type of “off-market “ acquisition makes up around 40% of the transactions which Kingsbury co-ordinate each year, where our team’s market knowledge and expertise is able to highlight and deliver exciting opportunities for our clients, often in highly competitive scenarios.
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- Sold for £5,850,000
- 141 Mile End Road London E1
- 10,000 sq.ft. retail warehouse let to HSS Hire and Topps Tiles
- Off Market Acquisition
- Situated in a prime Crossrail location
- Significant future development potential
Thanks for your help throughout, pleased with outcome and look forward to working with you all again.