Summary - REDE HOUSE, 63 - 75 FLAT 521 CORPORATION ROAD MIDDLESBROUGH TS1 1LS
1 bed 1 bath Not Specified
Turnkey student studio with strong headline yield and secure block amenities..
- Currently tenanted at £147.50 per week (student let)
- Approximate gross yield ≈ 20% at asking price
- Long lease: 239 years remaining
- Secure block with key‑fob entry and communal study lounges
- Small open‑plan studio, no private outdoor space
- Very high local crime and very deprived area
- Community mains gas heating; likely service charges apply
- Cavity walls assumed uninsulated; limited thermal performance
Rede House Flat 521 is a compact, purpose-built student studio in Middlesbrough town centre offered as a straightforward investment. Currently tenanted with rent set at £147.50 per week and an assured tenancy running through the 2024/25 academic year, the unit delivers immediate income from day one. At the asking price of £37,950 the current rent equates to an approximate gross yield of about 20% — a strong headline figure for short-term income-focused buyers.
The apartment is an efficient open-plan studio with an integrated kitchenette and a modern three-piece bathroom. It sits within a secure block with key‑fob entry, communal lounges, study spaces and on-site management geared to student living, reducing day-to-day landlord involvement. The property benefits from a long lease (239 years remaining) and double glazing installed before 2002. Council tax is described as very cheap, which can aid affordability for tenants.
Buyers should weigh the material negatives alongside the income. The block is in a very deprived part of the town with a very high local crime rate, which can increase management overheads, void risk and tenant turnover. The studio is small with no private outdoor space and basic thermal fabric (cavity walls assumed uninsulated); heating is via a community mains gas scheme, so centralised controls and service charges may apply. These factors are important for budgeting maintenance, insurance and future re-letting costs.
This lot will suit investors seeking an income-producing student let that needs minimal immediate refurbishment and offers strong headline yields. It is less suitable for buyers seeking long-term owner-occupation, quiet residential streets or sizeable living space. Prospective purchasers should verify tenancy details, service charge and management arrangements, and carry out their own surveys and checks before purchase.
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