1 bed flat for sale

63-75 Corporation Road, Middlesbrough TS1

Nestled in the vibrant heart of Middlesbrough, Rede House presents a lucrative investment opportunity for those seeking passive income in the lucrative student accommodation market. This well-appointed 1-bedroom student flat offers a hassle-free investment with guaranteed tenancy, providing a reliable stream of income through to the end of the academic year 2025.

Strategically located within close proximity to universities and amenities, Rede House is highly sought-after among students, ensuring consistent demand and full occupancy year-round. This makes it an ideal investment for those looking to capitalize on the lucrative student housing market.

The flat boasts a modern and functional layout, designed to meet the needs of contemporary student living. The accommodation features a comfortable bedroom, a well-equipped kitchenette, and a cosy living area, providing a comfortable and convenient space for residents.

With the property already tenanted and generating rental income, investors can enjoy a hassle-free investment experience with minimal management responsibilities. The existing tenancy agreement ensures a steady stream of rental income until the end of the academic year in 2025, providing peace of mind and financial security.

Furthermore, Rede House offers a range of amenities and facilities designed to enhance the student experience, including communal areas, study spaces, and on-site management services. This adds value to the investment proposition and contributes to the overall appeal of the property to prospective tenants.

Whether you're a seasoned investor looking to expand your portfolio or a first-time buyer seeking a reliable income stream, Rede House presents an exceptional opportunity to capitalize on the growing demand for student accommodation in Middlesbrough. With guaranteed tenancy and a prime location, this investment promises both financial returns and long-term growth potential.

Lease term: 250 years from 10 March 2014

Lease Information

The following information has been provided by the sellers, all information must be checked by prospective buyers legal representatives.

Gross rent - £7,168
Annual service charge - £2,258
Other fees - £963

Net profit - £3,947

Property Ownership Information

Tenure

Leasehold

Council Tax Band

A

Annual Ground Rent

£250.00

Ground Rent Review Period

No review period

Annual Service Charge

£2,258.00

Service Charge Review Period

No review period

Lease End Date

06/02/2264

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as "draft". Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts.

Successful buyers will be required to complete anti-money laundering and proof of funds checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.