Summary - 58 PEIRSON STREET REDCAR TS10 1SW
2 bed 2 bath Not Specified
Two tenanted one-bed flats near the seafront, sold freehold at auction.
Two separate one-bedroom flats generating £525 pcm each
A compact freehold building split into two newly refurbished one-bedroom flats, both let on Assured Shorthold Tenancies at £525 pcm each, producing a combined rental income of £12,600 per year. The property is a two-storey end-terrace a short walk from the seafront and local high street amenities, with modern kitchens, double glazing and gas central heating installed.
This is aimed squarely at buy-to-let investors seeking immediate rental income: both flats are occupied, council tax band A is low, and the property will be sold via online auction with a starting bid of £90,000. Tenancies transfer with the sale, so purchasers should expect no vacant possession on completion unless agreed otherwise.
Important considerations: the area is classed as very deprived with very high local crime figures and a “constrained renters” local profile. The building footprint and rooms are small (approx. 377 sq ft total), and the end-terrace has solid brick walls that likely lack cavity insulation. These factors affect tenant demand, long-term capital growth and possible maintenance costs.
This lot suits investors who prioritise immediate yield and a hands-off income stream from let flats near coastal amenities, and who are comfortable buying at auction into a challenged neighbourhood. Bidders should review tenancy agreements, service histories, and auction conditions before registering to bid.
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