Grove Road, Bow Offers in Excess of £800,000

• Double-fronted period terraced house
• Sold with the benefit of planning permission
• Creation of a six bedrooms with en-suite
• Spacious open-plan lounge
• Queen Mary University of London, member of The Russell Group, around the corner
• HIgh demande for good quality accommodation for students
• Project of a gross rental rent around £80,000
• Great location
• Freehold
• EPC rating D with a potential for B

A unique double-fronted period terraced house located in a parade of shops on Grove Road. This property is being sold with the benefit of planning permission (LBTH Ref number: PA/19/00062) for a mansard roof extension and the creation of 6 en-suite rooms, a spacious open plan lounge and kitchen and a ground floor WC.

This planning design was influenced by the properties plot and location, being around the corner from Queen Mary University of London, which is a member of The Russell Group of 24 UK universities that are world class research intensive universities.

Subsequently there is high demand for good quality accommodation for students of all levels in the area. Based on rents achieved this year for inclusive letting deals for en-suite rooms we project that a gross rental income of around £80,000 per annum will be achievable.

We recommend that any interested buyers make professional inquiries into Tower Hamlets property licensing. We can refer a specialist.

Please contact Martyn Stables for more information and to arrange viewings.

The location

Grove Road is in the Tredegar Square conservation area, a sheltered series of well-preserved Georgian and Victorian Streets with a wonderful sense of community. Bow and Mile End Road have a choice of pubs and eateries. The Rusty Bike on Bow Road and The Morgan Arms on Morgan Street are just 2 of many highlights.

To the south Roman Road continues to improve, Chisenhale Gallery and Dance and Zealand Café which serves great coffee and food and Chisenhale Primary School. Roman Road has a variety of independent shops, Cafes and restaurants alongside a traditional street market, 3 days a week, established in 1888 it continues to thrive as an East London tradition.

The Pavilion Café overlooking Victoria Park boating lake is 10 minutes’ walk, the park has been loved locally for generations, with lots of open green space. Victoria Park Village is just the other side of the park with its highly regarded variety of shops, pubs and restaurants.

Liveable Streets Bow is a £5million project being delivered by Tower Hamlets Council and TFL in consultation with The Roman Road Trust. Now in the final phase of consultation, they propose various measures to reduce traffic in Bow, including making Roman Road pedestrianised from 10am to 4.30pm every day, while also widening pavements, planting trees and creating more public space.

Mile End and Bow Road stations (Central Line, District and Hammersmith & City) are a short walk away to the South.

Tenure: Freehold

EPC Rating: Current D with a potential of B.