A private family office in the UK is offering the Whitechapel property known as Duru House, located at 101 Commercial Road, E1, for sale with an asking price of £7.5 million. Originally constructed as a clothing factory, the building was converted to office use in the 1990s and now provides 33,051 square feet of office and educational space across its basement, ground, and three upper floors. The asset is currently multi-let to ten tenants, delivering an annual rental income of approximately £208,653. Notably, vacant possession of the ground and upper floors could be secured within six months, while the basement remains let to London Xmas until March 2030, generating a rent of £55,200 per year.
This property presents a variety of potential redevelopment opportunities for prospective buyers. Conversion into residential accommodation through permitted development rights is a prominent option, as is transformation into purpose-built student accommodation (PBSA), which is increasingly in demand given the building's proximity to the Aldgate educational cluster. Office-to-residential conversions have gained traction in London as part of adapting to changing market dynamics post-pandemic, with the student housing sector also cited as one of the capital’s fastest-growing occupier groups, having seen 1.2 million square feet of take-up over the last seven years.
Alternatively, the building could be reimagined as a hotel or serviced apartments, or it could undergo retrofitting and extension while retaining its current mixed office and educational use. The flexibility of Duru House coupled with its location near Liverpool Street, Aldgate, and Aldgate East stations—offering access to several Underground lines—makes it attractive for various uses. The area benefits additionally from a vibrant local scene comprising restaurants, bars, shops, and markets such as Spitalfields, which further enhances its appeal for residential or hospitality conversions.
Currently, the second-floor office spaces in Duru House are available for rent with flexible leasing terms, suitable for smaller businesses. Facilities in these offices include glass-partitioned rooms with ample natural light, large reception areas, toilets, double-glazed windows, heating, and lift access. Rental rates for these spaces vary, reflecting their size and configuration, with some listings quoting as low as £10,200 per annum. The building hosts a range of tenants that include fashion retailers, accountants, and estate agents.
The sale process is being handled by Allsop and Savills, two prominent real estate firms, underpinning the transaction with professional oversight. As London’s real estate market continues to evolve with shifting demand patterns, opportunities such as Duru House that offer both immediate income and redevelopment potential underscore the strategic value in this part of East London.
Nearby, other developers like Truman Estates Ltd are actively pursuing large-scale redevelopment projects in the Whitechapel vicinity, which could signal further area-wide transformation and increased demand for new residential and mixed-use schemes. This broader context reinforces the latent potential embedded in properties such as Duru House for investors looking to capitalise on regeneration trends.
📌 Reference Map:
- Paragraph 1 – [1] (Estates Gazette), [2] (Estates Gazette)
- Paragraph 2 – [2] (Estates Gazette)
- Paragraph 3 – [2] (Estates Gazette), [3] (PrimeLocation), [4] (Zoopla)
- Paragraph 4 – [2] (Estates Gazette), [3] (PrimeLocation), [4] (Zoopla)
- Paragraph 5 – [2] (Estates Gazette), [7] (Whitechapel London)
Source: Noah Wire Services