**please note! 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!
A studio within the popular Rede House development, in Middlesbrough city centre. Rede House is a high-quality and modern accommodation just a short walk from Teesside University and the city's shops, restaurants, bars and central station. The great location, coupled with fantastic facilities and all bills included in the rent, make Rede House ideal for student life in Middlesbrough.
Teesside University is perfectly positioned under 10 minutes’ walk away, and with Middlesbrough Train Station also just a short walk away, students can travel up to the bright lights of Newcastle in just over an hour.
This Studio includes an en-suite shower room, fitted kitchen, study area and a double bed. Students will also have access to the on-site amenities which include Wi-Fi, private residents’ gym, social area and cinema room.
The popularity of Rede House is illustrated in the fact that the development is fully let for this academic year and is taking reservations for next year!
The Middlesbrough student market is ripe for investment as it continues to be structurally undersupplied, with Teesside University providing just 1,124 beds for its populace of over 20,000 students, leaving many searching for accommodation within the city’s private student housing market making Rede House the perfect investment!
Please note: Images shown are of a show apartment and may not be representative of the property for sale.
Financial Breakdown
Gross rent: £5,993
Ground rent: £250
Service charge: £2,487
Lettings fees: £719
Net income: £2,537
Gross yield: 17.12%
Net yield: 7.25%
Important Note To Purchasers
*Service charge, management fee and ground rent are included as part of the assured rental period.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance, and do not constitute any part of an offer or contract. Neither Yieldit nor the vendor or lessor accept any responsibility in respect of these particulars, which are not intended to be statements or representations of fact and any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
Yieldit ref: Yl-07001
