Summary - High Street, Redcar, North Yorkshire, TS10 TS10 3DS
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- **Prime High Street Location:** Centrally situated in Redcar, TS10.
- **Strong Rental Income:** Currently generating £20,800 per year.
- **High Yield Potential:** Attractive rental yield of 9%.
- **Spacious Property:** Encompassing an extensive 5,673 square feet.
- **Long Lease:** Effective for investment stability; lease runs until 2027.
**Potential Concerns:**
- **Short Lease Duration:** Only 3 years left may limit mortgage lending options.
- **High Crime Area:** Local crime rates are notably high.
- **Area Classification:** Classified as deprived, affecting long-term growth potential.
Nestled in the bustling heart of Redcar, this large retail property at 30 High Street offers an impressive investment opportunity for those looking to capitalize on a prime location. With a current annual income of £20,800 and a rental yield of 9%, this property is a solid choice for savvy investors. The generous size of 5,673 square feet provides ample room for various retail functions or potential redevelopments—ideal for those seeking a versatile investment.
However, prospective buyers should note the relatively short lease term of just three years, which may pose challenges for traditional mortgage financing. Additionally, while the area boasts numerous amenities within walking distance—including banks, shops, and eateries—it's important to consider the elevated crime rates and socioeconomic factors that may affect future value and desirability.
This property presents an ideal investment for those with vision, ready to enhance the business landscape in a central retail hub. Don’t miss out on this opportunity—properties in such strategic locations at this yield tend to sell quickly!
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