Apartment 202, 29 New Bailey Street, Manchester, M3 5GN

Description

A stylish two-bedroom apartment in the sought-after Riverview development, currently tenanted at £1,400 per calendar month. The apartment is reported to comprise a bright open-plan living space with floor-to-ceiling windows, a modern fitted kitchen with integrated appliances, and contemporary finishes throughout. Residents benefit from an on-site gym, cinema room, communal lounge, secure bike storage and a 24-hour concierge service.

Accommodation

Bright open-plan living space with floor-to-ceiling windows, modern fitted kitchen with integrated appliances, and contemporary finishes throughout.

Location

Situated in the Riverview development in a prime city centre location, offering far-reaching views across Manchester's skyline and access to resident amenities.

Tenure / Property Information

Investment Analysis

Same-address Land Registry sales range from £140,000 in November 2025 to £265,482 in December 2022, with £230,000 and £240,000 sales in 2023 and 2024. The wide spread may reflect differences between apartments, condition, floor, outlook or transaction circumstances, which are not supplied. A base GDV of £230,000 is used, with £140,000 as the low scenario and £265,482 as the high evidence-supported scenario.

Investment Snapshot

Strategy Recommendation

Potential income-led BTL, subject to satisfactory tenancy, service-charge, ground-rent, management and legal checks. Do not rely on the headline GDV or BRRR outcome without confirming the exact apartment comparables and finance valuation.

Works Required

No refurbishment works are identified in the supplied description. The apartment is reported to have contemporary finishes, a modern fitted kitchen and integrated appliances. Allowance excludes any unseen defects, compliance works, service-charge items or leasehold liabilities.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £230,000 base GDV and no evidenced refurbishment allowance, 75% refinance is approximately £172,500. Against a £170,000 purchase figure and no supplied buyer or administration fees, this indicates approximately £2,500 surplus before finance, tax and other costs. The result is highly sensitive to the uncertain comparable evidence and lender valuation, so the refinance case should not be relied upon without finance confirmation.

Buy-to-Let Analysis

At the stated passing rent of £1,400 pcm, annual rent is £16,800 and gross yield on the £170,000 guide is approximately 9.88%, before service charge, ground rent, management, maintenance, voids, tax and finance costs. Advertised evidence ranges from £1,475 to £1,800 pcm and the auctioneer estimate is £1,700 pcm, but these are not achieved rents. Verify the tenancy, rent payment history, deposit position, arrears and all apartment running costs before bidding.

Flip Analysis

The base GDV less the £170,000 purchase figure and zero evidenced works allowance produces £60,000 before selling costs, finance, tax and other project costs. No supported selling allowance, auction fees, buyer costs, service charges or finance costs are supplied, so a reliable net flip surplus cannot be calculated. The broad same-address sale range creates material resale risk.

Investor Risks & Due Diligence

• Wide variation in same-address completed sale prices, from £140,000 to £265,482.

• Comparable sales do not identify the exact apartment, floor, aspect, size or condition.

• The £1,400 pcm rent is passing rent, while other rental figures are asking rents or an auctioneer estimate rather than achieved rents.

• Service charge, ground rent, management costs, maintenance, voids, arrears and tenancy terms are not supplied.

• Buyer premium, administration charge and other auction costs are not supplied and are excluded from the calculations.

• Leasehold legal, building-management and communal-amenity liabilities are not supplied.

• No formal lender valuation or finance terms are available for the BRRR calculation.

Recommendation

Potential income-led BTL, subject to satisfactory tenancy, service-charge, ground-rent, management and legal checks. Do not rely on the headline GDV or BRRR outcome without confirming the exact apartment comparables and finance valuation.

Strategy Rating

Analysis Confidence

The property includes a stated passing rent, lease term, occupancy and several same-address completed sales, but the comparables are not unit-specific and buyer costs, service charges, ground rent, tenancy terms, finance costs and condition inspection evidence are absent.