Worst House on the Street Logo
For Sale: Lord Street, Redcar, North Yorkshire, TS10 - Image 1
For Sale: Lord Street, Redcar, North Yorkshire, TS10 - Image 2
For Sale: Lord Street, Redcar, North Yorkshire, TS10 - Image 3
For Sale: Lord Street, Redcar, North Yorkshire, TS10 - Image 4

For Sale: Lord Street, Redcar, North Yorkshire, TS10

North East

£330,000
Listed on 15/07/2023

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a unique opportunity for investment in the vibrant seaside town of Redcar, known for its beautiful coastal scenery and community atmosphere. Previously operating as a social club, the space offers versatile potential for various commercial or residential developments, subject to obtaining the necessary planning permissions. Situated on Lord Street, this location provides a strategic advantage, being nestled between a bustling commercial high street and established residential areas. This prime position ensures consistent foot traffic and accessibility, making it an appealing prospect for those looking to capitalize on the local market. The building's layout includes a substantial ground floor featuring several functional areas: an office space, multiple store rooms, a reception area, lounge, bar, and two restrooms. A cellar is also included, providing additional storage or potential conversion options. The upper floor boasts two function rooms along with another bar and restrooms, making it suitable for various uses—from entertainment venues to co-working spaces. It is important to note that while the property has significant potential, there is observable damage to the roof that will require attention. This aspect has been taken into account in terms of pricing; prospective buyers are encouraged to conduct viewings to fully assess the opportunity. All essential utilities—electricity, water, and waste connections—are already in place. The property is offered freehold and may require re-rating once occupied. Floor plans are available upon request for those interested in exploring this project further.

Investment Analysis

(TS10 area)
Area Average
£162/sq ft
Avg Rent (weekly)
£166
Avg Yield
5.2%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£100,000 - £150,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
39
Average per month
Market Turnover
19%
Properties sold annually

Local Market Trend (TS10)

Area prices are rising by +3.2% over the last 12 months
3 year growth: 3.3%
5 year growth: 21.4%
Investment Disclaimer: Analysis based on TS10 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

For Sale: Lord Street, Redcar, North Yorkshire, TS10
Loading map...

Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,209
Based on a loan of £247,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Next Steps

Explore services to help you with this property purchase.

Need a mortgage for this property?

Explore personalised financing options tailored to this property

No obligation, free consultation

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE