Summary - REDE HOUSE, CORPORATION ROAD TS1 1LY
1 bed 1 bath Retail Property (high street)
Approx. 1,500 sq ft prominent high-street unit
An income-producing high street retail unit in the heart of Middlesbrough, Rede House presents a clear investment play. The property totals approximately 1,500 sq ft and is currently producing £33,600 pa, giving a gross yield near 14.9% and a reported net yield of about 14% after service charge. It is held on a long lease (250 years from March 2015) with a peppercorn ground rent, offering secure long-leasehold ownership for the buyer.
Internally the space has a modern glazed façade and an industrial-converted café area with high ceilings and polished concrete floors. The building is occupied by three income streams: a five-year lease to a coffee shop, a rolling yearly agreement with a second tenant, and a short six-month licence for a treatment room. All tenants share the main entrance through the coffee shop and shared WC facilities.
Buyers should weigh clear strengths against notable local challenges. The property is priced for a quick sale and returns are strong, but the location sits within a very deprived neighbourhood with very high recorded crime — factors that can affect footfall, tenant demand and future rental growth. There is an annual service charge of around £1,920. On-street parking and excellent mobile/broadband connectivity are positives for town-centre operators.
Overall this is a specialist purchase aimed at investors seeking immediate income and high yield. The long lease and current occupancy make it straightforward to acquire income now, while the urban setting and large internal area offer potential for re-letting or reconfiguration should market conditions improve.
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