Summary - Milbank Terrace, Redcar, North Yorkshire, TS10 TS10 1EE
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Expansive 5860 SqFt retail property in a prime corner location.
- Current tenants include a long-established Indian restaurant and an MMA gym.
- Total rental income of £17,500 per annum with potential for increases.
- Located near a variety of amenities and good-rated schools.
**Concerns:**
- Limited 2-year lease on the restaurant may complicate financing.
- Property is situated in a high-crime area and classification indicates constrained renters.
Embrace a compelling asset management opportunity with this expansive retail property situated off Redcar's bustling Station Road. Encompassing an impressive 5860 SqFt, this two-story space features established tenants—a well-established Indian restaurant and an MMA gym—providing immediate rental income of £17,500 per year. With the restaurant in place for over 13 years and the gym for over 5 years, these tenants present a stable foundation for future investment.
Although the property’s lease on the restaurant expires in two years—a situation that may deter some mortgage lenders—the potential for increased rental returns makes this an attractive prospect for savvy investors willing to navigate the current terms. The surrounding area boasts essential amenities and is near highly-rated primary and secondary schools, appealing to families seeking a convenient location.
Given the size, location, and income potential of this property, it offers an enticing opportunity for those with a vision for future development and renovation. Act quickly, as opportunities like this one may not last long!
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