Apartment 47 The Citadel, 15 Ludgate Hill, Manchester, M4 4AL

Description

Second-floor one-bedroom apartment in The Citadel, Manchester Green Quarter. The auctioneer cites typical rents of £925-£1,000 pcm. Lease stated as 125 years from January 2004, ground rent £95 and service charge £2,483.76 pa. EWS1 rating B2 and Cladding Safety Scheme funding eligibility are noted.

Accommodation

Accommodation should be read together with the auctioneer particulars and legal pack. Where the auctioneer has supplied a room schedule, that source information forms the factual basis of this report; any configuration changes require verification on inspection.

Location

The property is located in the M4 postcode area. The location should be assessed for access to local amenities, schools, employment, road/rail links and tenant demand. The latitude/longitude fields use a postcode-area coordinate fallback for mapping and should not be treated as a surveyed building position.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: City-Centre Buy-to-Let. The guide is only a starting point. A maximum bid should be based on the legal pack, physical condition, finance costs, achievable rent and independently verified comparable evidence.

Works Required

• Commission a pre-purchase condition survey / detailed inspection

• Obtain contractor quotations for any refurbishment or compliance works

• Test electrical, heating and plumbing systems

• Check kitchen, bathroom, decoration and flooring condition

• Confirm EPC, fire, gas and electrical compliance before letting

• Review lease length, ground rent, service charge, major works and lender acceptability

Rental & Market Context

HB indicative market rent is £925–£1,000 pcm (£11,100–£12,000 pa). This is an HB estimate, not an auctioneer-stated rent, and should be verified with local letting evidence.

Sold within approximately 5 miles

No unverified sold comparables have been inserted. Check recent Land Registry evidence and closely matched local sales for property type, size, condition and tenure before setting a maximum bid.

Potential BRRR Position

Illustrative refinance cannot be tied to purchase price because the current guide is not published after the Sold Prior status. Any refinance should use the actual agreed purchase price and lender valuation.

Flip Analysis

A flip spread cannot be calculated without the actual Sold Prior purchase price. Use the agreed price, verified works budget and independent resale comparables.

Investor Risks & Due Diligence

• Review legal pack, title, special conditions and completion period

• Confirm auction administration charge, buyer's premium and disbursements

• Verify physical condition and refurbishment budget

• Check finance and insurance availability

• Verify rental evidence and recent sold comparables

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

• Review EWS1 B2/cladding documentation and Cladding Safety Scheme position

Recommendation

Initial recommendation: City-Centre Buy-to-Let. The opportunity should only be pursued where the verified total acquisition and works cost leaves adequate margin against conservative rental and resale evidence.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★☆☆ | Flip: ★★★☆☆