Apartment 137, 9, Mirabel Street, MANCHESTER, Lancashire, M3 1NP

Description

Leasehold flat. Principal bedroom with ensuite shower room, one further bedroom, reception room, kitchen, bathroom/wc.

Accommodation

Principal bedroom with ensuite shower room, one further bedroom, reception room, kitchen, bathroom/wc

Location

The property is located on Mirabel Street. Shopping amenities can be found locally within Manchester City Centre. Public transport links are available at Manchester Victoria Train Station to the east and Salford Central Train Station to the south west, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A6042 to the north and A665 to the east. Recreational pursuits can be found at Cathedral Gardens to the south east.

Tenure / Property Information

Investment Analysis

The strongest and most recent comparable is the same building at £90,000 in August 2025. Older same-building and same-street sales range from £137,100 to £203,000, but are dated and materially variable. The £120,000 guide sits above the latest comparable but below the older evidence. A provisional evidence-based base GDV of £120,000 is used, with a £90,000 low case and £144,000 high case. This remains uncertain without flat-specific size, condition, service charge, ground rent and special conditions.

Investment Snapshot

Strategy Recommendation

Potentially suitable for BTL at the guide based on advertised rental evidence, subject to confirming the service charge, ground rent, lease terms, condition, actual achievable rent and all auction fees. Do not rely on a flip or BRRR strategy without further due diligence.

Works Required

No specific defects or required works are disclosed. Allowance for refurbishment cannot be reliably estimated until the flat’s condition and any leasehold obligations are confirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £120,000 GDV, 75% refinance is £90,000. A complete BRRR analysis is not possible because refurbishment costs, service charge, ground rent, finance costs and applicable completion fees are not supplied.

Buy-to-Let Analysis

Advertised asking rents support £1,200–£1,350 pcm, equivalent to £14,400–£16,200 annually. Against the £120,000 guide, the gross yield is approximately 12.0%–13.5%, before service charge, ground rent, management, maintenance, voids, finance and tax. Service charge and ground rent are undisclosed, so net performance cannot be assessed.

Flip Analysis

A resale assessment is constrained by the wide range of dated comparables and the recent same-building sale at £90,000. At the provisional £120,000 GDV, project profit cannot be calculated because works, selling costs and applicable seller fees are unknown.

Investor Risks & Due Diligence

• Latest same-building comparable was £90,000, below the £120,000 guide.

• Service charge and ground rent are undisclosed.

• Additional seller fees may be payable under the Special Conditions of Sale.

• Rental figures are advertised asking rents, not achieved rents.

• Flat condition and any refurbishment requirement are not disclosed.

• Leasehold title and lease obligations require confirmation despite the stated 103 years remaining.

• Flip and BRRR returns are unquantifiable without works and transaction-cost data.

Recommendation

Potentially suitable for BTL at the guide based on advertised rental evidence, subject to confirming the service charge, ground rent, lease terms, condition, actual achievable rent and all auction fees. Do not rely on a flip or BRRR strategy without further due diligence.

Strategy Rating

Analysis Confidence

There is same-building sales evidence, advertised rent evidence and a stated lease term, but the comparable values are highly variable and key costs, condition, flat size, occupancy, service charge, ground rent and special conditions are unavailable.