Apartment 17, Fusion 3, 14 Middlewood Street, Salford

Description

A spacious, two-bedroom apartment located in the ever-popular Fusion Development. The apartment is situated on the fourth floor and benefits from lift access. Accommodation comprises entrance hall, lounge, kitchen, two bedrooms, one with en-suite and a main bathroom.

Accommodation

Entrance hall, lounge, kitchen, Bedroom One, Bedroom Two, en-suite and main bathroom.

Location

Conveniently placed within walking distance to Manchester City Centre, local shops and Salford University.

Tenure / Property Information

Investment Analysis

Comparable Fusion sales range from £105,000 to £165,000, with £147,500 and £165,000 being the latest supplied evidence. A base GDV of £147,500 is used, but unit-specific differences and the wide range reduce certainty.

Investment Snapshot

Strategy Recommendation

Potentially strong BTL at the guide, subject to verifying the tenant's passing rent, legal pack, service charge and all auction costs. Do not rely on the headline yield or refinance value without those checks.

Works Required

No refurbishment works are evidenced. Verify condition, tenancy documentation, lease, service-charge position and legal-pack requirements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the £147,500 base GDV indicates gross borrowing capacity of £110,625. However, total acquisition and project costs cannot be established because refurbishment, buyer fees and special-condition costs are not fully supplied. Refinanceability and valuation are unconfirmed.

Buy-to-Let Analysis

At the £46,000 guide, the supplied £1,100 pcm advertised local asking rent implies a 28.7% gross yield before service charge, ground rent, management, voids, finance, auction fees and other costs. The rent is not confirmed as the tenant's passing rent. The £3,367.87 annual service charge materially affects net returns.

Flip Analysis

The comparable evidence supports a broad resale range of £125,000–£165,000, with £147,500 as the base case. Flip profit cannot be calculated reliably because refurbishment, full acquisition costs and selling costs are unsupported.

Investor Risks & Due Diligence

• The advertised £1,100 pcm rent is not confirmed as the passing rent.

• Annual service charge is £3,367.87 and ground rent is £275.96.

• Buyer premium is unspecified and special-condition costs may be payable.

• Comparable sale prices vary substantially from £105,000 to £165,000.

• The legal pack, tenancy terms, arrears position and lease obligations require verification.

Recommendation

Potentially strong BTL at the guide, subject to verifying the tenant's passing rent, legal pack, service charge and all auction costs. Do not rely on the headline yield or refinance value without those checks.

Strategy Rating

Analysis Confidence

Several directly comparable sales and an area rental asking figure are supplied, but the exact unit's rent, condition, full fees, special-condition costs and tenant documentation are not.