Property Description

Choices Investments have secured a number of one and two bedroom tenanted apartments situated in Saltburn-by-the-Sea. With prices from £40,000 these properties offer the investor the cheapest investment available when using a mortgage. It is also possible to purchase these properties with cash for £39,999 and pay no stamp duty.

Choices Investment instructed a RICS survey to take place on the 23rd February 2017 that returned a valuation of a two bedroom property at £50,000.

The properties have been refurbished over the last 3 years by the current owner and benefit from new 250 year leases with ground rent charged at £150pa and service charge estimated at £27pcm.

All the properties are currently tenanted (some to the same tenant since 2006) via the local housing association (LHA). All rents from the LHA will be paid directly to the landlord, not via the tenant, to ensure the rental payment is protected during the tenancy.

Area Information

Connections from Saltburn to Middlesbrough are very good with train journeys taking 23 minutes.

Major investment projects in Middlesbrough totalling £500m have resulted in significant changes. The outcome is the creation of over 4,000 new jobs, support for new and growing business, expanded learning and leisure opportunities, and the building of 7,000 new executive homes.

Middlesbrough is easily accessible from the major trunk roads the A1 and A19, with a population of over 700,000 within a 30 minute drive time. Middlesbrough offers high quality office space, a sustainable workforce, a 30,000-strong undergraduate base, a strong manufacturing and engineering supply chain, and a world-class digital media and technology enterprise zone. A range of business growth support packages and continuous investment, combined with the energy and warmth of our people, a lower cost of living, improved housing offer, a rich cultural and leisure mix, and prime sites available for development makes Middlesbrough an attractive business prospect.

Middlesbrough is host to 32 million town centre visitors per annum. Visitors and businesses can enjoy the surroundings of a new Holiday Inn Express (with further expansion underway) and a newly refurbished Jurys Inn, four key shopping centres, and the newly-developed, high quality independent food and beverage quarter.

Additional development plans for Grade A office space and an improved residential offer ensure Middlesbrough remains the primary city centre of the wider Tees Valley economy.

Middlehaven is Middlesbrough's flagship regeneration area and includes world-class residential, office, education, leisure and cultural developments. Lying north of the A66, Middlehaven incorporates the dockside near Middlesbrough's Riverside Stadium, home to Premier League football, and the landmark Transporter Bridge. It has already attracted £128m worth of investment with more in the pipeline.

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The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. You are advised to check the availability of this property before travelling any distance to view. We have taken every precaution to ensure that these details are accurate and not misleading. If there is any point which is of particular importance to you, please contact us and we will provide any information you require. This is advisable, particularly if you intend to travel some distance to view the property. The mention of any appliances and services within these details does not imply that they are in full and efficient working order.