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Studio for sale

£39,995 (£182/sq. ft) Offers in region of

Corporation Road, Middlesbrough TS1

1 220 sq. ft*

Images may include optional upgrades at additional cost

Interested in this property? Call +44 20 8022 7495 * or

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Central heating
  • Double glazing
  • Porter/security
  • Free WiFi for residents
  • Communal Lounge with Sky TV, study areas, pool table, PS4 and table tennis
  • Cinema room / Post Room / Laundry Room / Free 24/7 onsite gym
  • Cycle storage
  • 247 year leasehold
  • Tenanted and fully managed with circa 9% rental yield

Property description

Flambard Williams present a fantastic opportunity to own a luxury studio in Middlesbrough which provides an income of circa 9% per year. Each studio has its own kitchen, bathroom and study area, and also provides access to the building's onsite gym, cinema and entertainment rooms.

Rede House is a 240 unit student accommodation building based in Middlesbrough. The property was completed by Fortis Developments to a very high standard; facilities include a gymnasium, cinema room, communal lounge, cycle storage and laundry facilities.

The property is just a short walk from Teesside University and the city's shops, restaurants, bars and central station. The great location, coupled with fantastic facilities makes Rede House ideal for savvy property investors.

Regional cities such as Middlesbrough, have a severe shortage of quality rental accommodation and can therefore command higher than average yields in the student property sector. This property offers circa 9% compared to a 6% national average and confirming the current trend of students preferring pbsa over traditional housing, Rede House has been 100% occupied since it was completed back in 2014.

Rede House is a hands free investment, with all management, letting and maintenance of the building handled through Fortis Student Lettings. Investors simply sit back and receive quarterly income payments.
Floorplan(s): Floorplan 1

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Market activity
Average price paid £53,458 Sales 147 Current average value £62,089 (Zoopla Zed-Index) Value change £225 ▲ 0.36%

Property value data/graphs for TS1

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £195,838 - 3.7 -
Semi-detached £79,081 - 3.7 £43,300
Terraced £60,187 £74 2.6 £53,370
Flats £94,564 £144 1.8 £79,000

Current asking prices in TS1

Average: £63,420
Avg. current asking prices in TS1
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £115,000
(1)
£56,411
(35)
£68,980
(33)
£112,500
(2)
£165,000
(1)
Flats £47,809
(13)
£72,500
(2)
- - -
All £52,608
(14)
£57,281
(37)
£68,980
(33)
£112,500
(2)
£165,000
(1)

Current asking rents in TS1

Average: £675 pcm
Avg. current asking prices in TS1
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £327 pcm
(18)
£393 pcm
(63)
£532 pcm
(90)
£692 pcm
(52)
£1,047 pcm
(18)
Flats £401 pcm
(21)
£541 pcm
(7)
£666 pcm
(3)
£1,473 pcm
(1)
-
All £367 pcm
(39)
£408 pcm
(70)
£536 pcm
(93)
£706 pcm
(53)
£1,047 pcm
(18)

Fun facts for TS1

Highest value in TS1
Highest value streets Zed-Index
Linthorpe Road £139,189
Southfield Road £136,179
Albert Road £132,865
Croydon Road £131,503
Borough Road £124,443
Highest turnover in TS1
Highest turnover streets Turnover
Selbourne Street 46.2%
Faraday Street 45.5%
Wylam Street 40.0%
Tennyson Street 34.0%
Cadogan Street 33.3%

What Zoopla users think of Middlesbrough

Overall rating:

  • currently 3.5 stars
Good - 66% (144 ratings)

Ratings breakdown:

  • currently 3 stars
Community & safety
  • currently 3 stars
Entertainment & nightlife
  • currently 3.5 stars
Parks & recreation
  • currently 3.5 stars
Restaurants & shopping
  • currently 3.5 stars
Schools & public services
  • currently 3.5 stars
Transport & travel

Rate Middlesbrough:

Tell us what you think of this area by rating these categories.
Please note your vote will only be counted once.

Community & safety
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Entertainment & nightlife
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Parks & recreation
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Restaurants & shopping
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Schools & public services
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Transport & travel
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5

Nearby transport

  • Middlesbrough (0.2 miles)
  • James Cook University Hospital (2.0 miles)
  • South Bank (2.2 miles)
  • Durham Tees Valley Airport (9.2 miles)
  • Newcastle Airport (36.9 miles)
  • Leeds Bradford International Airport (52.1 miles)
  • Transporter Bridge South Side (0.5 miles)
  • Transporter Bridge North Side (0.6 miles)
  • Newcastle International Ferry Terminal (30.1 miles)

Nearby schools

View all schools in Middlesbrough
  • Abingdon Primary School (0.4 miles)
  • Breckon Hill Primary School (0.6 miles)
  • Newport Primary School (0.7 miles)
  • River Tees High Academy (1.9 miles)
  • Endeavour Academy Durham (13.8 miles)
  • Durham Sixth Form Centre (19.6 miles)
  • Macmillan Academy (1.5 miles)
  • River Tees Middle Academy (1.9 miles)
  • Hollis Academy (1.9 miles)
Note: Distances are straight line measurements

Local info for Middlesbrough

AskMe Q&A for Middlesbrough

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* Sizes listed are approximations. Please contact the agent to verify actual sizes.

For more information about this property, please contact
Flambard Williams, CM2 on +44 20 8022 7495 * (local rate)

Monthly running costs Beta

£360 Monthly total

Mortgage

Purchase price
Deposit (10%) 3,999
Repayment term 25
Interest rate 1.5
Your payment £143 /mo How Much Could I Borrow

These results are not provided by NatWest and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Home Insurance

Rebuild value up to £1,000,000 Contents value up to £75,000 Average insurance cost £32/mo (£379/yr)
Compare insurance deals now In partnership with uSwitch
Home insurance costs explained

Home Insurance is based on the average price of a building and contents quote for a property in this area in the last 48 months.

Source: Autonet Insurance Ltd

Energy

Gas £20 Electricity £23 Estimated energy cost £43/mo

Similar properties could save up to £180

How Much Could I Save? In partnership with uSwitch
Energy costs explained

The estimated energy cost for this property has been calculated using actual energy usage data for a property of this type, number of bedrooms and region.

Estimated consumption

Gas: 6300 kWh/year
Electricity: 1800 kWh/year

Source: National Energy Efficiency Data Framework

Council Tax

Local authority

Middlesbrough

Estimated tax band A Council tax cost £119 /mo
when paid over 10 months
Council tax costs explained

The Council Tax cost displayed is based on the council tax band and on the basis of 2 adults living at the property. The monthly cost shown excludes any discounts and is rounded to the nearest pound.

Full information on Council Tax discount entitlements can be found on the Gov.UK’s website.

Water

Supply £10 Sewerage £13 Estimated water cost £23 /mo
Water costs explained

Water consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.

Total annual consumption (in cubic meters) is then averaged into a monthly cost.

Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.

Contact Flambard Williams about this property

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Flambard Williams, and do not constitute property particulars. Please contact Flambard Williams for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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