Apartment 32, Vestry Court 6 John William Street, Manchester, Lancashire, M30 0EH

Description

2 BED APARTMENT FOR SALE BY AUCTION 7tH- 8TH SEPTEMBER FOR SALE VIA ONLINE AUCTION ON MONDAY 7TH SEPTEMBER AT 1PM UNTIL TUESDAY 8TH SEPTEMBER 11AM. PLEASE CONTACT FOR VIEWING ACCESS CLOSE TO LOCAL AMMENITIES WITHIN OLD TRAFFORD. SHORT COMMUTE TO MANCHESTER CITY CENTRE INVESTMENT OPPORTUNITY (MORE PHOTOS AND FLOOR PLAN TO BE ADDED) For sale via timed online unconditional auction unless agreed prior under auction terms. A well-presented two bedroom apartment situated in the popular area of Oldham close proximity to Manchester and Salford Quays, offering excellent access to the city centre, local amenities, Manchester University and Salford University, and transport links. PLEASE NOTE No appliances have been tested by Auction House. Any measurements are approximate. We recommend any would be bidders conduct their own due diligence in good time prior to the auction taking place. IMPORTANT INFORMATION Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid. If you are the successful bidder, you are required to pay the deposit and auction fees immediately. As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract. You must not bid unless you wish to be bound by the common conditions of auction. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars. Tenure: Leasehold

Accommodation

The supplied particulars indicate approximately 2 bedroom accommodation. Room layout, floor areas and dimensions should be confirmed from the auctioneer particulars, floor plan and inspection.

Location

Located in Manchester, Lancashire. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. The screening case depends on achieving a sufficient margin or sustainable income after all acquisition and holding costs.

Works Required

• Review complete building/property condition

• Electrical and heating inspection

• Allow for decoration and repairs where required

• Review service charge and major-works liabilities

Rental & Market Context

HB screening rent is approximately £600–£800 pcm (£7,200–£9,600 pa). Replace this with current local letting evidence. No reliable current rent was extracted from the supplied source.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is about £81,000–£93,750 against purchase + works of approximately £105,000–£112,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-4,000–£20,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

• Confirm lease term, ground rent, service charge and major works

Recommendation

Initial recommendation: Buy-to-Let. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• Buy-to-Let: ★★★★☆

• BRRR: ★★★☆☆

• Flip: ★★★☆☆