Apartment 506 X Q 7 Building, Salford, Lancashire, M5 3FN

Description

A two bedroom apartment. A leasehold 5th floor apartment comprising: hall, open plan lounge/kitchen, master bedroom with en-suite shower room, second bedroom and bathroom. Measurements: Lounge/kitchen - 4.6m x 6.66m; Bedroom 1 - 2.58m x 3.24m; Bedroom 2 - 2.54m x 4.54m; Bedroom 2 en suite - 1.48m x 1.98m; Bathroom - 1.99m x 2.3m.

Accommodation

Hall, open plan lounge/kitchen, master bedroom with en-suite shower room, second bedroom and bathroom.

Location

Adjacent to Exchange Quay Metrolink with good links to Manchester city centre and Media City.

Tenure / Property Information

Investment Analysis

Same-building sold evidence is highly dispersed: £50,000 to £162,500, including £64,000 in February 2026 and £162,500 in July 2026. A £120,000 base GDV is used as a cautious midpoint anchored to the £120,000 February 2025 sale, but the range indicates substantial uncertainty regarding condition, specification or transaction circumstances.

Investment Snapshot

Strategy Recommendation

Proceed only as a cautious BTL or long-term hold if inspection, lease review and service-charge information support the asking-rent case. The evidence does not support an aggressive flip or a confident maximum bid.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any repairs only if confirmed before exchange; no works allowance has been included in the calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £120,000 base GDV, 75% refinancing equates to £90,000. Against the £114,525 purchase price plus stated buyer and administration charges, indicative cash left in is £24,525 before finance, tax, works and other costs. The result is highly sensitive to the wide range of same-building sales and the absence of confirmed condition and lease-cost information.

Buy-to-Let Analysis

The only rental evidence comprises advertised asking rents of £1,250 pcm for comparable two-bedroom properties, not achieved or guaranteed rent. At the £110,000 guide, annual gross rent of £15,000 equates to 13.64%; including the stated £1,500 buyer premium and £3,025 administration charge, the gross yield is 13.10%. Service charge, ground rent, finance, management, maintenance and other auction costs are not supplied, so net yield cannot be established.

Flip Analysis

At the base GDV, the property shows £5,475 gross headroom over the guide purchase price plus stated buyer and administration charges, before works, selling costs, finance and tax. No supported selling-cost allowance or refurbishment cost is available, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Very wide dispersion in same-building sold prices, from £50,000 to £162,500.

• Rental evidence is advertised asking rent rather than achieved or passing rent.

• No condition or refurbishment information is supplied.

• Service charge, ground rent and other lease-related costs are not supplied.

• Additional legal, search, seller-cost reimbursement, transfer and other auction charges may apply.

• The calculated refinance and equity position is sensitive to the uncertain GDV.

Recommendation

Proceed only as a cautious BTL or long-term hold if inspection, lease review and service-charge information support the asking-rent case. The evidence does not support an aggressive flip or a confident maximum bid.

Strategy Rating

Analysis Confidence

The property identity, tenure, lease term, same-building sales and asking-rent evidence are supplied, but comparable prices vary substantially and condition, service charge, ground rent, parking, achieved rent and other auction costs are unavailable.