Summary - 58 PEIRSON STREET REDCAR TS10 1SW
1 bed 1 bath Flat
Two refurbished one-bed flats near the seafront — instant rental income from day one..
- Two one-bedroom flats in one building; sold as a single lot
- Producing £525 pcm each; total income £12,600 pa
- Recently refurbished; modern, low-maintenance finishes
- Short walk to the seafront and local high street amenities
- Very high local crime and very deprived area classification
- Sold at auction with public notice/repossession flagged
- Tenancies on ASTs; sold with occupants in place
- Small rooms and low ceilings; limited living footprint
An income-producing, recently refurbished two-storey building in central Redcar offering immediate rental return. The property comprises two one-bedroom flats (ground and first floor), each let on ASTs and currently producing £525 pcm, giving a combined annual income of £12,600. The block sits a short walk from the seafront and local high street amenities, with fast broadband and excellent mobile signal — practical for tenants and easy to manage remotely.
This lot is offered for sale by auction with a starting bid of £90,000 and immediate exchange possible through Secure Sale online bidding. The flats were refurbished before occupation and present a modern, low-maintenance finish: compact layouts, contemporary kitchens, and basic, minimalist exteriors. The building is positioned for investors seeking a low-entry, yield-focused purchase with instant income.
Buyers should note material risks: the property sits in a very deprived area with very high recorded crime levels, which can affect tenant churn, insurance costs and re-letting prospects. Tenure is recorded as unknown and both flats are sold with existing AST tenancies in place; there is also a public notice/repossession flag. Interiors are small with low ceiling heights and limited footprint — suitable for secure rental but not high-end refurbishment without further investment.
This is a pragmatic purchase for an investor prioritising immediate cashflow and simplicity of management. Check the auction terms, tenancy paperwork, and title/tenure documentation before bidding. Expect modest capital growth prospects given the wider area classification, offset by the immediate income stream and seaside location.
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