Apartment 109 Manor Mills, Ingram Street, Leeds, West Yorkshire, LS11 9BN

Description

This ground floor, studio apartment is in excellent condition having just been refurbished. It’s to be sold with vacant possession; however, similar flats in the development have recently been marketed for £850pcm. This would be an ideal investment for a landlord wanting to add to their portfolio.

Accommodation

Ground Floor: Studio - kitchen/living area, sleeping area and bathroom.

Location

Manor Mills is a popular city centre development that is a short walk to the shops, offices and train station. It’s also conveniently located near the Leeds-Liverpool Canal and the motorway network.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-development sale at £82,500 on 9 January 2026. Older sales range from £64,000 to £105,000, indicating material historic variation. A base GDV of £82,500 is used, with £64,000 and £105,000 as evidence-supported low and high scenarios. The apartment is described as refurbished and has vacant possession, but the comparable evidence is not unit-specific.

Investment Snapshot

Strategy Recommendation

Consider as a buy-to-let at or near the guide, subject to verifying the £850 pcm rent, leasehold charges, lease terms and special-condition costs. Do not rely on the high GDV scenario for bidding or refinancing.

Works Required

No refurbishment works are identified from the supplied description, which states that the studio has just been refurbished and is in excellent condition. Verify condition, lease terms and any outstanding works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £82,500 base GDV, 75% refinancing equates to £61,875. Against the purchase price, no identified refurbishment allowance and known administration/search costs, approximately £5,585 of the analysed cost remains before finance, tax and any unquantified special-condition costs. The outcome is sensitive to valuation, refinancing terms and the property's leasehold charges.

Buy-to-Let Analysis

At the auctioneer's estimated advertised rent of £850 pcm, annual gross rent is £10,200. Gross yield is approximately 15.13% on the £65,000 guide and 15.12% on the purchase price plus the known £2,100 minimum administration charge and £360 searches. Ground rent, service charge and insurance total £1,933.62 annually before finance, tax, maintenance, voids and management. The rent is an estimate based on marketed similar flats, not achieved rent.

Flip Analysis

At the base GDV of £82,500, the analysed surplus before selling costs, finance, tax and any unquantified special-condition costs is £15,040. The older comparable range is wide and no supported selling-cost allowance is provided, so a formal flip surplus cannot be established.

Investor Risks & Due Diligence

• The £850 pcm figure is an advertised/auctioneer estimate rather than achieved passing rent.

• The comparable sale range is wide, from £64,000 to £105,000, and the sales are not identified as the same unit.

• Unknown Special Conditions of Sale may add seller legal, transfer, search or other costs.

• Leasehold costs include £370 annual ground rent, £1,204.60 service charge and £359.02 insurance.

• Refinancing depends on the lender's valuation, loan terms and eligibility; the 75% GDV figure is indicative only.

• Maintenance, voids, management, finance and taxation are not included in the gross-yield calculations.

Recommendation

Consider as a buy-to-let at or near the guide, subject to verifying the £850 pcm rent, leasehold charges, lease terms and special-condition costs. Do not rely on the high GDV scenario for bidding or refinancing.

Strategy Rating

Analysis Confidence

There is a recent same-development sale, several additional completed sales, a stated rent estimate and clear known recurring charges. Confidence is reduced because the sales are not unit-specific, rent is advertised/estimated, and special-condition costs and detailed lease information are incomplete.