Look Eastside for best zone 2 value

Average property prices in the E3 postcode are much lower than other zone 2 postcodes such as SW4, N7 and W12. Low prices, plus the fact that the area of Bow is undergoing regeneration and the 2012 Olympics will be right on the doorstep, means E3, which includes the Eastside development by Inspace Homes in partnership with Circle Anglia, is an excellent bet for property investment.

Land Registry figures show the average price paid for a flat in various zone 2 areas between July and September 2006 was £274,151 in North London (N7, Tufnell Park), £285,776 in South London (SW4, Clapham), £269,072 in West London (W12, Shepherds Bush) and £214,926 in East London (E3, Bow).

For buyers looking for zone 2 East London value, Inspace Homes (formerly Widacre Homes) and joint venture partner Your Lifespace have apartments at its Eastside development in Bow, E3, starting at £214,950. Sue Dance, Sales and Marketing Manager of Inspace Homes, comments: “E3 is zone two’s best kept secret – a flourishing, affordable area right on the doorstep of the City. The Eastside development is a striking development, designed and built to the highest of specifications and encapsulates all that is good about the postcode. We are sure those who buy at Eastside will be delighted with their investment.”

Another major attraction of the scheme is its investment potential due to its proximity to the new ‘Stratford City’, the central focus of the London 2012 Olympic Games. The area will experience vast regeneration to accommodate this major international sporting event and Eastside is just a 10-minute walk to the Olympic Village.

Stratford is also at the centre of a £300 million investment plan. Over the next 20 years, 32 acres of new parks and public squares will be created, along with 1.5 million square feet of new shopping and leisure facilities including three new department stores, 5 million square feet of new commercial space, 34,000 new jobs, 4,500 new homes, 2,000 new hotel rooms, a new international rail terminus (due to open in 2007), a new construction and design academy, new nursery, primary and secondary schools and the reclamation of the River Lea waterfront for a leisure destination.

IT Administrator Danny Wakeling and his partner Zoe Pearce purchased a one-bedroom apartment at Eastside. They are delighted to finally be getting a foot on the property ladder and think the area has a lot of potential. Danny explains: “The Olympic Village is being built just down the road from the development and we feel that the apartment will definitely hold its value, maybe even increase as a result; this area will certainly be an exciting place to live in 2012 and the investment into the new ‘Stratford City’ will clearly have an impact on the area and make it highly desirable.”

He was impressed with the size of his apartment. Danny adds: “It was the biggest one-bedroom apartment we found and the best value for money; we saw a couple of other one-bedroom apartments in the area that were smaller and also roughly £20,000 dearer.”

The latest phase, Lower Eastside, comprises of 68 one and two-bedroom apartments, accommodated in a 5 storey contemporary building set around a gated courtyard, with parking and landscaped grounds. The building’s façade is a clever fusion of pale and burnt orange render balanced with glazing, iron balustrades, topped with a wood panelled uppermost level; the overall effect is a dynamic, unashamed, modern landmark in the local area.

Prices at the latest phase, Lower Eastside, start from £214,950 for a one-bedroom apartment and £267,450 for a two-bedroom apartment. For further information, visit eastside-e3.com.