There are lots of lovely parks all across London. Allen Gardens is a fantastic city park, between Shoreditch High Street and Bethnal Green. It’s really popular, providing a vibrant space in a wonderful location. News that two new towers are planned for near the park means more people could have the chance to live here in the future. We want to have a closer look at the plans, then if you want some assistance with investment properties in Tower Hamlets, please let us know.

The plans

Blue Coast Capital is proposing to develop a piece of vacant Brownfield land to the north of Allen Gardens. It sits between train lines, and is ready for development. The idea is to create two new towers, twelve and ten storeys tall respectively. The homes will overlook the green space, adding value for the new residents and also giving it a new backdrop.

The plan is for the larger of the two blocks to create 220 co-living studios. These will be en-suite bedrooms sharing key facilities like kitchens and communal space. The idea is similar to what you have with student accommodation. Crucially, the studios would all be available for private rental.

The second tower will offer 25 flats, all available for social rent. Notably, they will mostly be family size, including 15 with three bedrooms and 8 with four. The final pair of properties will be two beds.

Recommendation

The pair of towers will be an interesting addition to the area. They further showcase the popularity of the area. It’s become a great location for investment properties in Tower Hamlets because of the green space and proximity to fantastic amenities such as the iconic Brick Lane.

Planning officers for Tower Hamlets support the development. They say it would “help facilitate” improvements in the area, especially Allen Gardens. The project would include £1m to upgrade the facilities, including the playgrounds. The investment will be fantastic, particularly because there have been concerns about a rise in anti-social behaviour in the park.

Acknowledging that there will likely be concerns about the height of the buildings, the council officers agree they are taller than is typical for the area. However, they said the “attractive” design will add a great backdrop to the park. There will also be value as more homes overlooking the green space will enhance the safety and security.

Tower Hamlets Council will consider the proposals in the next few days. It will be interesting to see if they are approved. It is likely they will agree with the planning officers, but there could be requests for changes.

Ask us about investment properties in Tower Hamlets

Investors have been targeting different areas in Tower Hamlets for a long time now. It’s become a popular option because people want to be close to fantastic amenities. Plus, the proximity to the City and Canary Wharf, with great transport links, is very attractive to many people. Assets near Allen Gardens and other green spaces are a really good option.

If you are thinking about any investments, you can rely on us. Finefair Ltd has a huge amount of experience in the property market in London. We know how challenging it can be, but the right strategy and services can provide impressive returns. We work with clients to ensure they get the best results, specialising in guaranteed rent and managing portfolios.

So, if you want any help with investment properties in Tower Hamlets, we’re here for you. Get in touch today and discover what we can do.