Studio for sale in Middlesbrough TS1, 0 Bedroom

*** fantastic yield **
Rede House is a fully completed and operational student development situated in Middlesbrough. Such is the demand for student rooms in Rede House, the development has been fully booked for the academic year 2018-2019. The development comprises of 230 deluxe, premium and standard studios, designed to provide higher class accommodation. Rede House also takes home many communal facilities from, a fully equipped gym and secure bike area, to an entertainment, lounge and laundry room. The development also benefits from the retail units on the ground floor.

Key to the ongoing success of the Rede House development is its location just yards from the main campus of Teeside University and its 30,000 full time students. With many units overlooking the main campus from its location across the road, the high demand for student units within Rede House is likely to be consistent in the years to come.

This spacious deluxe studio has been fully tenanted since the opening of the development 4 years ago. The unit is a large self contained studio which includes an ensuite shower room, fitted kitchen, study area and double bed.

**Investment highlights**
Annual Ground Rent = £200
Annual Service Charge = £1362.12
Annual Lettings Fee = £654.72
Gross Rent £105 for 51 weeks = £5,355
£112.50 for 44 weeks = £4,950
Annual Net Rent £3,138.16 for a 51 week let
2,733.16 for a 44 week let
Net Yield 9.09% for a 51 week let
7.92% for a 44 week let

Location

Middlesbrough takes home stunning architecture and a transporter bridge which lights up the skyline. Middlesbrough also hosts excellent transportation links, from train services to ferries which sees around 1.4 million passengers yearly. Students are attracted to the area with the city taking home four shopping centres and the iconic 'The Empire' venue, which hosts numerous music acts.

Rede House- Walking Distances
Middlesbrough train station - 5 minutes
Teesside University - 3 minutes
Middlesbrough Library - 10 minutes
Riverside Stadium - 15 minutes
The Mall - 20 minutes