The subject site is located on the south side of Chestnut Avenue in an area of East London which has seen improvement over recent years and will likely continue to do so, with the arrival of Crossrail in 2018.
The site is well-served for the public transport network with main bus routes available in proximity. Wanstead Park London Underground Station (Overground Line) is less than 100 metres to the south with journey times to Barking Station (District and Hammersmith & City Lines) of 7 minutes and Blackhorse Road Station (Victoria Line) of 12 minutes.
Forest Gate Railway Station is circa 300 metres south of the property, currently providing regular direct services into London Liverpool Street with a journey time of 13 minutes. Forest Gate Station is due to become a Crossrail Station in 2018, which will further improve the already exceptional transport links.
Crossrail will provide a direct connection to Tottenham Court Road in only 17 minutes and to London Heathrow Airport in 47 minutes. A recent study by CBRE Residential predicts house prices will increase by 13% over and above general house price inflation around Crossrail stations outside Central London by the time Crossrail opens.
Stratford International station, approximately 2 kilometres to the east, provides a high speed service which takes only 7 minutes to connect to London St Pancras and the Eurostar.
Stratford station is also on the Docklands Light Railway and Jubilee Line - the journey times to Canary Wharf being 12 and 14 minutes respectively.
National Rail destinations from Stratford station include East Anglia, north-east London and Liverpool Street. There are half hourly services from Stratford Station to Stansted Airport with a journey time of 1 hour.
Comprehensive main road networks provide easy links to Central London, High Road Leytonstone A11, East Cross Route A12, A13, High Road Leyton A112, M11 and M25 motorways.
The Westfield Stratford City is approximately 2 km west of the property being one of the largest urban shopping centres in Europe comprising 175,000 square metres of retail floor space with 300 stores including Marks & Spencer, John Lewis and Waitrose as well as a Vue Cinema complex.
The location benefits from good access to substantial green open spaces and parks provided by Wanstead Flats circa 300 metres to the north and Queen Elizabeth Olympic Park approximately 2 kilometres to the east of the property.
Site area 1050.1 sq.m. /11303 sq.ft. / 0.26 acres
The property currently comprises a joinery workshop.
Outline planning permission was granted for 1 x detached three bedroom house, 2 x semi-detached three bedroom houses, 2 x terraced two bedroom houses and 1 x semi-detached two bedroom house on 14th August 2013. The 6 three storey houses will comprise a total of 550 sq m (5,920 sq ft) Gross Internal Area, in addition to the private gardens and 7 car parking spaces.
Freehold for sale with vacant possession
Rateable value: £31,750
Estimated Rates Payable: £15,240 per annum
Service charge: n/a
Local authority: London Borough of Newham