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

Description

TO BE SOLD VIA ONLINE AUCTION ON SEPTEMBER 30TH – OCTOBER 1ST 2026 UNLESS SOLD PRIOR UNDER AUCTION TERMS

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

***MORE IMAGES COMING SOON***

Edward Mellor Auction has not inspected the apartment, but it is reported to comprise a bright open-plan living space with floor-to-ceiling windows allowing plenty of natural light, together with a modern fitted kitchen with integrated appliances. Finished in a contemporary style throughout, the property offers strong appeal to both investors and future owner-occupiers once vacant.

Tenure / Property Information

Council Tax Band: D; Tenure: Leasehold; Years Remaining on the Lease: 243

Investment Analysis

HB analysis uses the supplied Edward Mellor scrape as the primary property source. Auctioneer facts are separated from HB desktop estimates; all figures should be verified before bidding.

Investment Snapshot

Market Comparables

No priced sold comparable was captured in the supplied scrape. Base GDV £190,000 is an HB desktop estimate because no priced sold comparable was captured in the supplied scrape; independent sold-evidence research is required before bidding.

Proposed Works

HB desktop works allowance: £10,000. Allow for inspection-led repairs, decoration, safety/compliance items and contingency.

Rental Value

A stylish TWO-bedroom apartment positioned in the sought-after Riverview development, offering impressive far-reaching views across Manchester's skyline. Currently tenanted at £1,400 per calendar month, the property presents an excellent investment opportunity in a prime city centre location. Rental values for a two-bedroom apartment within this development are within the region of £1,700 per month.

Low / Base / High Investment Scenario

BTL Analysis

At the starting bid, the gross yield is 11.6%.

BRRR Analysis

Using a 75% refinance against the HB base GDV gives indicative refinance proceeds of £142,500. Against purchase plus works of £170,000, indicative cash left in is £27,500. Finance, tax, legal fees and lender valuation haircuts are excluded.

Flip Analysis

At the HB base GDV, after purchase plus works and an indicative 2% selling allowance, the pre-finance/pre-tax flip surplus is approximately £16,200. This is a screening figure, not a formal valuation.

Maximum Bid Indicator

HB Desktop Screening Ceiling: approximately £147,700. This is a desktop screening ceiling only, not a formal valuation or instruction to bid; SDLT, finance, legal fees and property-specific abnormal costs must be added separately.

Strategy Recommendation

Most relevant strategy: BTL / BRRR. The choice reflects the scraped condition/occupancy narrative, available rent evidence and the relationship between the starting bid, works allowance and HB base GDV.

Strategy Rating

BTL ★★★★★; BRRR ★★★★☆; Flip ★★★☆☆

Key Risks

• lease terms, service charge and ground rent must be checked against the legal pack
• thin priced sold-comparable evidence in the supplied scrape
• tenancy status, arrears and possession position require legal verification

Analysis Confidence

Medium. Confidence reflects the quality of the supplied listing information, embedded coordinates/images, and the amount of sold/rental evidence captured in the scrape.