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£33,500
Rede House - Student Apartments, TS1
- 0 beds
£33,500
- 0 beds
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Estimate monthly mortgage payment:
£153 per month
Minimum deposit amount:To get a mortgage for a property you will typically need a minimum of 5% of the property value as a deposit. Our broker will be happy to talk through your options and everything else you need to secure a mortgage
To get a mortgage for a property you will typically need a minimum of 5% of the property value as a deposit. Our broker will be happy to talk through your options and everything else you need to secure a mortgage
£1,675
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Investment Opportunity: Apartment 3.31, Rede House, Middlesbrough, TS1 1LY - £33,500
Purpose-Built Student Studio 14.5% NET Yield Fully Managed Teesside Uni 10-min Walk
Welcome to Rede House, a modern and fully managed student accommodation development in the heart of Middlesbrough. Apartment 3.31 is a self-contained studio apartment on the third floor, offering a hands-off investment opportunity with strong rental demand and an impressive 14.5% NET yield based on 2024/25 running costs.
Property Highlights:
* Price: £33,500
* Size: 20.3m? Studio Apartment
* Tenure: Leasehold - 250 years from Feb 2014
* Ground Rent: £226.20 per annum (RPI linked)
* Service Charge: £2,258.28 (2024/25)
* Furniture: Fully Furnished
* Payment Terms: 100% on exchange/completion
* Management & Lettings: Xenia Lettings - Fully Managed
Investment Snapshot:
* Rental Income:
- £160/week (51 weeks) = £8,160 p.a.
- £152.50/week (43 weeks) = £6,557.50 p.a.
* Letting Fees: £805.20 per 10-month tenancy
* Occupancy: Consistently tenanted
* Tenancy Dates:
- 9 Sep 2024 - 14 Jul 2025 (44 weeks)
- 5 Sep 2025 - 27 Aug 2026 (51 weeks)
* Net Yield: Estimated 14.5%
Location Perks:
* Corporation Road, Middlesbrough - Central location
* Teesside University - <10 minutes' walk
* Middlesbrough Train Station - <5 minutes' walk
* Middlesbrough College - 6 mins by car
* Durham University (Queen's Campus) - 9 mins by bus
Facilities at Rede House:
* En-suite bathroom
* Complimentary Wi-Fi
* Fully equipped kitchenette
* 24/7 On-Site Team & Out-of-Hours Support
* Social Area & Tenant Events
* CCTV & Secure Access
* Gym & Laundry Room
* Bike Storage
Whether you're a seasoned investor or entering the student accommodation market for the first time, Apartment 3.31 presents a low-entry, high-yield opportunity in a well-located and popular development.
?? Fully Tenanted No Rental Guarantee Required Proven Returns
Tenure: Leasehold (250 years)
Ground Rent: £226.2 per year
Service Charge: £2,258.28 per year
Purpose-Built Student Studio 14.5% NET Yield Fully Managed Teesside Uni 10-min Walk
Welcome to Rede House, a modern and fully managed student accommodation development in the heart of Middlesbrough. Apartment 3.31 is a self-contained studio apartment on the third floor, offering a hands-off investment opportunity with strong rental demand and an impressive 14.5% NET yield based on 2024/25 running costs.
Property Highlights:
* Price: £33,500
* Size: 20.3m? Studio Apartment
* Tenure: Leasehold - 250 years from Feb 2014
* Ground Rent: £226.20 per annum (RPI linked)
* Service Charge: £2,258.28 (2024/25)
* Furniture: Fully Furnished
* Payment Terms: 100% on exchange/completion
* Management & Lettings: Xenia Lettings - Fully Managed
Investment Snapshot:
* Rental Income:
- £160/week (51 weeks) = £8,160 p.a.
- £152.50/week (43 weeks) = £6,557.50 p.a.
* Letting Fees: £805.20 per 10-month tenancy
* Occupancy: Consistently tenanted
* Tenancy Dates:
- 9 Sep 2024 - 14 Jul 2025 (44 weeks)
- 5 Sep 2025 - 27 Aug 2026 (51 weeks)
* Net Yield: Estimated 14.5%
Location Perks:
* Corporation Road, Middlesbrough - Central location
* Teesside University - <10 minutes' walk
* Middlesbrough Train Station - <5 minutes' walk
* Middlesbrough College - 6 mins by car
* Durham University (Queen's Campus) - 9 mins by bus
Facilities at Rede House:
* En-suite bathroom
* Complimentary Wi-Fi
* Fully equipped kitchenette
* 24/7 On-Site Team & Out-of-Hours Support
* Social Area & Tenant Events
* CCTV & Secure Access
* Gym & Laundry Room
* Bike Storage
Whether you're a seasoned investor or entering the student accommodation market for the first time, Apartment 3.31 presents a low-entry, high-yield opportunity in a well-located and popular development.
?? Fully Tenanted No Rental Guarantee Required Proven Returns
Tenure: Leasehold (250 years)
Ground Rent: £226.2 per year
Service Charge: £2,258.28 per year
Mortgage calculator
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£153 per month
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Stamp Duty tax
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Stamp Duty Land Tax (SDLT) is a tax you might have to pay if you purchase a property or land. SDLT applies to properties above a certain price threshold. The amount you'll have to pay depends on the property's value and if you already own a property, or have done so in the past. If you are a first-time buyer, or you are purchasing multiple dwellings, you may be eligible for a discount (tax relief).
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Mortgage and legal costs:
£999
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