Focus On Shadwell: Good transport and pubs mean promising times ahead in East London
St Chad – after whom east London’s Chadwelle, now known as Shadwell, is named – is jokingly referred to as the patron saint of botched elections. This modern nickname was applied after the 2000 US election, when irregular “chads” (punched holes) may have defaced enough ballots cost Al Gore the 2000 US election.
Chad is actually the patron saint of medicinal springs, like the one that used to be located in Shadwell. But today’s tonic for residents is the healthy rises in the value of their properties.
The former maritime industrial town is well and truly gentrified, although it maintains its bustling, multi-cultural personality.
Louisa Brodie, Head of Search & Acquisitions at Banda Property, says: “Shadwell has benefited from considerable investment over the last few years, with the mass conversion of its warehouse heritage to residential apartments and the development of several large new build schemes.
"It still has enough of a gritty east London vibe to make it interesting and exciting, attracting City boys and young professionals with its big lateral spaces, great bars and restaurants and quick access to Bank and Canary Wharf on the DLR.
“Investment in the area is showing no signs of slowing, with the creation of two new public spaces as part of the nearby Aldgate Project. Whitechapel Crossrail is due to open in 2018, offering direct access to Heathrow and reducing commuting time to Canary Wharf to just 3 minutes.
"Bearing in mind Shadwell is one of the few remaining affordable central London addresses, there is considerable scope for capital growth over the next 5 years.”
Scott West of Foxton’s Wapping office agrees, saying that Shadwell has come on in leaps and bounds over the last decade.
“It might not have been the first choice for buyers even ten years ago, with preference being given to neighbouring Wapping or Canary Wharf, but around five years ago, things have really started to change. Conveniently sandwiched between Canary Wharf and the City and offering easy commute options via DLR and National Rail, Shadwell started to attract the interest of professionals and new families, looking to get more value for their money than the neighbouring areas offered.
The George Tavern, complete with pub cat
"On average, buyers would expect to pay around £325,000-£350,000 for a one bedroom flat, £400,000 for a two bedroom apartment and £750,000 for a three bedroom family house in the area.
“The property portfolio in Shadwell mainly consists of ex-local authority apartment blocks, which are especially popular as buy-to-let investments, but there are also beautiful three bed Georgian houses with patio gardens on Cable Street and modern apartment blocks on Davenport Street.
“Another new development is currently under construction with Telford Homes, demonstrating the investment in the area. Shadwell has a good range of private family-owned amenities, and the Watney Street market regularly attracts locals from Shadwell and the nearby areas.
"A more extensive range of amenities is available within seven minutes commute to Canary Wharf via DLR, or within 6 minutes via National Rail to Whitechapel.”
We are, fortuitously, approaching St Chad’s day (March 2), so don’t botch this election: get out there and vote for Shadwell, the perfect area to improve your investment portfolio.
Area Highlights
Shadwell has an abundance of historical gems to discover. A local favourite is The George Tavern, a lively Grade-II listed pub and music venue owned by artist Pauline Forster. In a former life, it was called The Halfway House and it’s been mentioned in literature by Chaucer, Pepys and Dickens.
Nearby, Wilton’s Music Hall is also the oldest surviving music hall in the world. Its Mahogany Bar and Cocktail Bar are rustic, beautiful places to go for a drink before heading to The Troxy, a legendary Art Deco theatre and concert venue. Tobacco Dock hosts a number of festivals throughout the year and there’s a gin festival to enjoy this month.
You’re spoilt for choice when it comes to a good curry. Lahore Kebab House is an enormous family-run restaurant that’s been serving authentic Pakistani food for 40 years, while Tayyabs is famed for its mouth-watering spiced lamb chops.
On the market in Shadwell this week
Spencer Way, E1, £599,995
This two bedroom apartment sits on the 17th floor of a modern development that’s next to Shadwell’s stations with a private balcony. Call Foxtons Shoreditch on 020 7033 1414.
Cannon Street Road, E1, £375,000
A bright and airy one bedroom flat on the third floor. It’s well-proportioned, in good condition. Call Foxtons Shoreditch on 020 7033 1414.
The Junction, E1, from £540,000
A collection of new two and three bedroom flats from Telford Homes with private outside space. Due to be finished in Autumn 2016. Call Telford Homes on 020 3538 4859.