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Flat 3.31, Rede House - Student Apartments

Description

Investment Opportunity: Apartment 3.31, Rede House, Middlesbrough, TS1 1LY - £33,500

Purpose-Built Student Studio | 14.5% NET Yield | Fully Managed | Teesside Uni 10-min Walk
Welcome to Rede House, a modern and fully managed student accommodation development in the heart of Middlesbrough. Apartment 3.31 is a self-contained studio apartment on the third floor, offering a hands-off investment opportunity with strong rental demand and an impressive 14.5% NET yield based on 2024/25 running costs.


Property Highlights:
* Price: £33,500
* Size: 20.3m² Studio Apartment
* Tenure: Leasehold - 250 years from Feb 2014
* Ground Rent: £226.20 per annum (RPI linked)
* Service Charge: £2,258.28 (2024/25)
* Furniture: Fully Furnished
* Payment Terms: 100% on exchange/completion
* Management & Lettings: Xenia Lettings - Fully Managed


Investment Snapshot:
* Rental Income:
- £160/week (51 weeks) = £8,160 p.a.
- £152.50/week (43 weeks) = £6,557.50 p.a.
* Letting Fees: £805.20 per 10-month tenancy
* Occupancy: Consistently tenanted
* Tenancy Dates:
- 9 Sep 2024 - 14 Jul 2025 (44 weeks)
- 5 Sep 2025 - 27 Aug 2026 (51 weeks)
* Net Yield: Estimated 14.5%


Location Perks:
* Corporation Road, Middlesbrough - Central location
* Teesside University - <10 minutes' walk
* Middlesbrough Train Station - <5 minutes' walk
* Middlesbrough College - 6 mins by car
* Durham University (Queen's Campus) - 9 mins by bus


Facilities at Rede House:
* En-suite bathroom
* Complimentary Wi-Fi
* Fully equipped kitchenette
* 24/7 On-Site Team & Out-of-Hours Support
* Social Area & Tenant Events
* CCTV & Secure Access
* Gym & Laundry Room
* Bike Storage


Whether you're a seasoned investor or entering the student accommodation market for the first time, Apartment 3.31 presents a low-entry, high-yield opportunity in a well-located and popular development.

 Fully Tenanted | No Rental Guarantee Required | Proven Returns


Tenure: Leasehold (250 years)
Ground Rent: £226.2 per year
Service Charge: £2,258.28 per year

Brochures

Brochure
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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GARDENA property has access to an outdoor space, which could be private or shared.
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ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Flat 3.31, Rede House - Student Apartments

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About Residential Estates, Chester

First FL. Kinnerton House Bell Meadow Business Park Park Lane Pulford CH4 9EP

We started our business 25 years ago as a Chester based property rental and lettings agency, and have grown into a respected, and diverse provider of property services.

The reason for our long term success, is due to constant focus on developing lasting client relations, offering unparalleled expertise over a full spectrum of services within the property industry.

We currently have multiple business departments, listed as follows:

Residential Property Investment

Residential Property Sales

Residential Lettings

Land Acquisitions

Property Management

Serviced Accommodation

International Property Sales & Investments

We are Chester's first internet based estate agency, and investment specialists. We believe in moving in-line with the change of the market place, to ensure our customers receive the very best service, from all divisions of our company portfolio.

The tailored service we offer directly meets the needs of our clients, as a tenant, a landlord, or an investor, we respect and value your business.

We would like to thank all of our clients over the years for helping us reach an important milestone, our silver anniversary, which we celebrated in 2015 after 25 years in business.

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Disclaimer - Property reference 331RedeHouse. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Residential Estates, Chester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

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