Apartment 39, 2B The Waterfront, Openshaw, Manchester, M11 4DB

Description

A spacious two-bedroom apartment situated in the ever-popular Sports City area of Manchester. The property is located on the sixth floor, with lift access, and accommodation comprises entrance hall with utility cupboard off, open plan lounge and kitchen, two bedrooms, and a bathroom. Externally the property features a large balcony spanning all three rooms to the rear, which overlooks both the Etihad Stadium and the Co-Op Live Arena. There is also a gated communal car park and a communal garden. Well positioned for easy access to Manchester City Centre, with excellent transport links and local shops.

Accommodation

Entrance hall with utility cupboard off, open plan lounge and kitchen, two bedrooms, and a bathroom.

Location

Situated in the Sports City area of Manchester, with views of the Etihad Stadium and the Co-Op Live Arena. Well positioned for access to Manchester City Centre, excellent transport links and local shops.

Tenure / Property Information

Investment Analysis

Five same-address leasehold flat sales range from £107,000 to £165,000: £107,000, £120,000, £125,000, £155,000 and £165,000. The median is £125,000, used as the base GDV. The spread is material, so valuation should be treated cautiously pending confirmation of condition, service charge, ground rent and the exact sale circumstances.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after reviewing the legal pack and confirming service charge, ground rent, major works exposure, condition, rent evidence and all special-condition fees; otherwise the investment and resale margin are not sufficiently defined.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance cannot be estimated. Confirm condition, lease terms, service charge, ground rent, communal maintenance obligations and any major works exposure before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £125,000 base GDV, 75% refinancing is approximately £93,750. At the £110,000 guide, the purchase plus supplied buyer premium and minimum admin charge is £113,780 before works and other fees, so the indicated refinance would not cover even those known costs. Final BRRR viability cannot be calculated without works, recurring leasehold costs, finance costs and verified rent.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. At the £110,000 guide, known buyer premium and minimum admin charge total £3,780, before works, service charge, ground rent and other possible special-condition fees.

Flip Analysis

A potential resale value is supported by same-address sales between £107,000 and £165,000, with a £125,000 base scenario. Profit cannot be calculated because refurbishment costs, selling costs and additional auction charges are not supplied. The guide price is £15,000 below the base GDV before known and unknown costs.

Investor Risks & Due Diligence

• Material spread in same-address sale prices from £107,000 to £165,000.

• Service charge and ground rent are unconfirmed.

• Possible major communal or building works exposure is unconfirmed.

• No reliable property-specific rental evidence is supplied.

• Works, finance, selling and other special-condition costs are unquantified.

• Leasehold legal and transfer obligations require review of the auction legal pack.

Recommendation

Do not bid on the current evidence alone. Proceed only after reviewing the legal pack and confirming service charge, ground rent, major works exposure, condition, rent evidence and all special-condition fees; otherwise the investment and resale margin are not sufficiently defined.

Strategy Rating

Analysis Confidence

Same-address completed-sale evidence supports a market-value range, but rental evidence, condition, service charge, ground rent, EPC, council tax, works costs and possible additional auction fees are absent.