Studio flat for sale

Corporation Road, Middlesbrough, Cleveland, TS1

Fixed Price £44,290

Property Description

Key features

  • Fully tenanted for the new academic year
  • Three minutes walk from the university campus
  • Earn 8.10% net yield
  • 3,585.82 net income per annum

Full description

Rede House is a fully completed and operational student development situated in Middlesbrough. Such is the demand for student rooms in Rede House, the development is already fully booked for the forthcoming academic year 2017-18. The development comprises of 230 deluxe, premium and standard studios, designed to provide higher class accommodation. Rede House also takes home many communal facilities from, a fully equipped gym and secure bike area, to an entertainment, lounge and laundry room. The development also benefits from the retail units on the ground floor.

Key to the ongoing success of the Rede House development, is its location just yards from the main campus of Teeside University and its 30,000 full time students. With many units overlooking the main campus from its location across the road, the high demand for student units within Rede House is likely to consistent in the years to come.

This spacious superior studio has been fully tenanted since the opening of the development two years, and we confirm that a new tenant is in place for the academic year 2017-2018. The unit is a large self contained studio which includes an ensuite shower room, fitted kitchen, study area and double bed.

Investment Highlights
Purchase price £44,290 at 27.7 square metres
Next academic year tenancy is 51 weeks at £117 per week
Lettings fees are £659.18
Service charge £1,480.50
£3,585.82 net income per annum
8.10% net yield currently delivered

Location Details
Middlesbrough takes home stunning architecture and a transporter bridge which lights up the skyline. Middlesbrough also hosts excellent transportation links, from train services to ferries which sees around 1.4 million passengers yearly. Students are attracted to the area with the city taking home four shopping centres and the iconic 'The Empire' venue, which hosts numerous theatre and music acts.

Rede House- Walking Distances
Middlesbrough train station - 5 minutes
Teesside University - 3 minutes
Middlesbrough Library - 10 minutes
Riverside Stadium - 15 minutes
The Mall - 20 minutes

Purchase Process
1. Complete the reservation form and pay the £2,000 reservation fee.
2. Instruct solicitors and receive legal and sales pack
3. Pay the remaining balance on completion of contracts


Listing History

Added on Rightmove:
23 October 2017

Nearest stations

  • Middlesbrough (0.2 mi)
  • South Bank (2.2 mi)
  • Marton (2.6 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Hopwood House, Manchester

Building 12, Office 16 Tameside Business Park Windmill Lane Denton M34 3QS

0161 468 0126 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Middlesbrough (0.2 mi)
  • South Bank (2.2 mi)
  • Marton (2.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hopwood House, Manchester

Building 12, Office 16 Tameside Business Park Windmill Lane Denton M34 3QS

0161 468 0126 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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