Knight Frank says ..

Property Oracle says ..

Princelet Street, Spitalfields, E1 is located in the heart of London’s East End, a vibrant and rapidly developing area. The property benefits from its proximity to excellent transport links, including Shoreditch High Street Overground station (0.69km) and Liverpool Street station (1.27km), providing easy access to the City and beyond. Several well-regarded schools are also within a reasonable distance, including Christ Church Cofe School (0.23km) and St Anne’s And Guardian Angels Catholic Primary School (0.28km), both rated ‘Good’ by Ofsted. This makes the location highly desirable for families and young professionals alike.

Based on the images provided, the property appears to be in need of modernisation. While the large windows and high ceilings offer considerable potential, the current state of the finishes and fixtures suggests a need for significant investment. The exposed brickwork and original wooden flooring contribute to a unique character, but the overall condition requires attention before the property can be considered move-in ready.

The plot size of 1,632 sqft is relatively small for a London property, but not uncommon for apartments in this densely populated area. While there is no garden, the location itself offers access to numerous green spaces within walking distance.

Considering the list price of £1,650,000 and the property’s size of 1,762 sqft, the price per sqft works out to approximately £936. This is significantly higher than the average price per sqft in the area (£853), reflecting the desirability of the location and the potential of the property. However, the required modernisation should be factored into any assessment of value. Nearby comparable properties on Princelet Street have sold for between £1,400,000 and £1,900,000, suggesting that the list price falls within the expected range for this area, although the lack of information regarding the specifics of those sales makes a precise comparison difficult. The relatively high price per sqft compared to the area average is justified by the property’s size, location, and potential.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Images