Studio flat for sale

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Studio flat for sale

Rede House, 63-75 Corporation Road, Middlesbrough TS1
£30,000

Our Summary

  • Due to the size and lease restrictions on purpose-built student accommodation, this property is not eligible for a mortgage and can only be bought as an investment property - cash buyers only need apply

Description

This self-contained student studio is located in the popular Rede House development in Middlesbrough city centre, within walking distance to Teesside University and the city's amenities. The property features a fully fitted kitchen, study area, double bed, and bathroom, and is fully furnished. Students will also have access to on-site amenities including Wi-Fi, a private residents' gym, social area, and cinema room. The development is fully let for the current academic year and is taking reservations for next year, with expected rental increases of up to 10%. The property is only available for cash buyers and is not eligible for a mortgage, with a gross yield of 20.17% and a net yield of 9.18%.
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