Rede House, Corporation Road, Middlesbrough, TS1
- PROPERTY TYPE
Flat
- BEDROOMS
1
- BATHROOMS
1
- SIZE
431 sq ft
40 sq m
Key features
- 8% NET YIELD
- Tenanted & Generating Immediate Income
- Already Let For The Upcoming 2024/25 Academic Year
- Low Entry Price - Cash Investment Opportunity
- 5th Floor Spacious One Bedroom Apartment
- On-site Gym, Cinema & Communal/Games Room
- Walking Distance To University & City Centre
- Close to Restaurants, Shops & Bars
- Excellent Public Transport Links
- No SDLT Payable
Description
Superb Cash Investment Opportunity
Fully Furnished, Fully Managed & Currently Tenanted @ £170 per week
Already Let For The Upcoming 2024/25 Academic Year @ £175 per week
Financial Performance For 2023/24
Rental Income: £170pw / £8,670 per annum on a 51-week contract
Service Charge: £3,386.76 per annum
Ground Rent: £250 per annum
Lettings Fee 11% + VAT: £1,144.44 per annum
NET INCOME: £3,888.80
NET YIELD: 8%
Mr Investa presents this fantastic cash investment opportunity with this SPACIOUS ONE BEDROOM APARTMENT in Rede House. Tenanted & Generating Immediate Income!
This will make a perfect addition to any investment portfolio or for first time investors alike.
Take a look at the photos, floorplan and 360 virtual tour of the apartment!
Located on Corporation Road, students at Rede House have Middlesbrough City Centre on their doorstep. Teesside University is less than a 10-minute walk away and with Middlesbrough Train Station just around the corner, students have easy access to regular public transport links.
Students at Rede House get their own personal space to live in, whilst also having access to some great social areas in the building including a cinema room, gymnasium and a large games/common room. The property is one of the larger specs in the development and one of the first units to be let consistently every year. Briefly the property comprises; spacious living room, kitchen, double bedroom and bathroom.
NOTE TO PURCHASERS: Whilst all Information is believed to be correct, the information is provided via the seller and should always be check via yourself or legal representative. Mr Investa does not accept any responsibility in respect of this information provided.
Tenure: Leasehold You buy the right to live in a property for a fixed number of years, but the freeholder owns the land the property's built on.Read more about tenure type in our glossary page.
GROUND RENTA regular payment made by the leaseholder to the freeholder, or management company.Read more about ground rent in our glossary page.
£250 per year (Ask agent about the review period)When and how often your ground rent will be reviewed.Read more about ground rent review period in our glossary page.
ANNUAL SERVICE CHARGEA regular payment for things like building insurance, lighting, cleaning and maintenance for shared areas of an estate. They're often paid once a year, or annually.Read more about annual service charge in our glossary page.
£3386.76
LENGTH OF LEASEHow long you've bought the leasehold, or right to live in a property for.Read more about length of lease in our glossary page.
239 years left
Energy performance certificate - ask agent
Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.
Ask agent
Rede House, Corporation Road, Middlesbrough, TS1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Middlesbrough Station0.3 miles
- South Bank Station2.2 miles
- Marton Station2.6 miles
About the agent
Mr Investa Ltd, Salford
Mr Investa, Blue Tower, MediaCityUK, M50 2ST
We offer a unique and bespoke service for Landlord to Landlord Sales.
Here at Mr Investa we understand that not ever investor is the same, not every seller or buyer have the same requirements.
Using the latest technology in the property market to give our clients a full insight to the properties and areas we offer from the comfort of their home or on the go. We do this by providing a virtual tours, floor-plans and financial performance for each property.
Our aim is to take t
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Visit our security centre to find out moreDisclaimer - Property reference MSN-96266809. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Mr Investa Ltd, Salford. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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