Apartment 211, Fresh 138 Chapel Street, Salford, M3 6AF

Description

This is a two-bedroom apartment in the sought-after Fresh building close to Manchester City Centre. The property is currently tenanted on a per-room basis, with the rental income at a total of £1,135pcm / £13,620pa.

Accommodation

Two double bedrooms, bathroom suite, open plan kitchen / living room Property not internally inspected by agent

Location

Chapel Street is ideally positioned in a prime central location, with Manchester’s extensive range of restaurants, bars, cafés, retail and leisure facilities within easy reach. Excellent transport links include Deansgate-Castlefield Metrolink, Deansgate and Salford Central stations, providing convenient access throughout Greater Manchester and supporting strong rental demand.

Auction Information

Tenure

Leasehold. The legal pack is the definitive source for lease length, title, covenants, service charges, ground rent and special conditions.

Council Tax

Band C.

Investment Analysis

Market Comparables

Use recent Land Registry sold evidence and genuinely comparable current/let rental evidence for the same micro-location, accommodation, tenure and condition. Venmore’s stated rents or rental opinions are retained as auctioneer evidence where supplied; HB screening figures are not a formal valuation.

Proposed Works

HB desktop allowance: £16,000. Scope should be confirmed from inspection, photographs, survey and contractor pricing. Prioritise structure, roof/damp, services, heating/electrics, windows, kitchens/bathrooms, decoration and external works only where relevant to this specific property.

Rental Value

Low / Base / High Investment Scenario

Specialist Commercial Analysis

Verify occupational leases, passing rents, rent-review provisions, repairing obligations, VAT status, business rates, service costs and covenant strength. Mixed-use assets should be valued by component and income where appropriate.

Maximum Bid Indicator

Base the maximum bid on verified commercial/residential income and capital value, less buyer fee, works, legal/professional, finance, holding, contingency and required return. SDLT treatment may differ for mixed-use/non-residential purchases and is buyer-specific.

Strategy Recommendation

Income hold or refurbishment/re-letting, with redevelopment only where planning and title support it.

Strategy Rating

Income Hold: ★★★★☆ | Value-Add: ★★★★☆ | Development: ★★★☆☆

Key Risks

Lease length, ground rent, service charge and lender acceptability, auctioneer has not internally inspected, listed-building constraints, legal-pack special conditions, condition/survey, finance and valuation risk.

Analysis Confidence

Medium for facts reproduced from Venmore’s particulars; low-to-medium for HB desktop works/value screens until inspection, legal-pack review, direct sold/rental comparables and contractor/QS pricing are completed.