Whitechapel is one of the most attractive areas in the Borough of Tower Hamlets because of its unbeatable location. This is ideal for commuters, being within touching distance of the City as well as numerous incredible transport links. It is no wonder that the location is proving to be so attractive for people interested in investment properties.

The latest news for Whitechapel will be well received by all kinds of property investors. A new regeneration scheme has been granted planning permission by Tower Hamlets Council. It will see the former Safestore facility transformed into a modern, multi-use development.

The plan will create 564 new homes including 149 (or 26%) which will be designated as affordable. This will help to attract more people to the area and work towards satisfying demand for homes here too. The site is based close to the new Crossrail station that will open in December 2018 so it will be a wonderful location for commuters.

Alongside the homes the commercial heritage of the site will be preserved with the creation of 38,000 square feet of space for business use. This will become home to offices, shops, a gym, a cafe, and storage facilities for local markets. The office space will be ideal for small to medium sized enterprises and provide great flexibility.

Impressively approximately 30% of the site is being dedicated to the public, including open spaces and landscaped walking routes. This will give the area a more open feel that the people who choose to live and work here will love.

The regeneration project is expected to begin in 2017 with the first stage planned for completion the following year. This would coincide well with the opening of the new station. As a result the homes could be even more attractive to commuters, whether they work in the City or further afield.

At Finefair we can offer advice about all kinds of investment properties throughout Tower Hamlets. The new homes in Whitechapel could prove to be attractive opportunities in the future when they are completed.