Flat 13, 388 Deansgate, Manchester, M3 4LB

Description

A well located one bedroom flat situated in a purpose built block. The property is presented in clean decorative order and benefits from a balcony. To be sold with vacant possession.

Accommodation

Second Floor - Bedroom, Lounge / Kitchen, Bathroom, En - Suite.

Location

The property is located on Deansgate which can be accessed off Bridgewater Viaduct. Local amenities can be found on Deansgate, Quay Street and Oxford Street. Recreational amenities of Hulme Park, David Lewis Sports Ground and Chorlton-Cum-Hardy Golf Club are all easily accessible. Transport Deansgate - National Rail.

Tenure / Property Information

Investment Analysis

The strongest evidence is the £140,000 completed sale recorded at 388 Deansgate on 12 June 2025. Nearby 386 Deansgate sales range from £100,000 to £150,000, although the unit sizes, specifications and circumstances are not supplied. The £355,000 sale is materially higher and its comparability cannot be established. A base GDV of £140,000 is therefore used, with a cautious evidence-based range of £100,000–£150,000. The £90,000 guide is below the base GDV, but buyer fees, VAT, seller charges and refurbishment costs are unknown.

Investment Snapshot

Strategy Recommendation

Proceed only as a conditional acquisition subject to legal pack, lease and service-charge review, physical inspection, fee/VAT confirmation and independent rental evidence. Do not rely on the apparent GDV spread without verifying comparability and total costs.

Works Required

The flat is described as being in clean decorative order. No specific repairs or refurbishment works are evidenced; inspection, lease review and confirmation of fixtures, services and common-parts condition are required before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The guide is £90,000 against a base evidence-supported GDV of £140,000, and 75% of that GDV is £105,000. However, refurbishment costs, buyer and seller charges, VAT, finance costs and rent are unavailable, so total project cost, cash requirement and refinance viability cannot be established.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Gross yield, operating surplus and debt coverage are therefore unsupported. The flat is vacant and would require confirmation of service charges, ground rent, council tax, EPC and letting suitability.

Flip Analysis

A completed sale at the same address supports a base GDV of £140,000, but comparable unit details and all acquisition, buyer, VAT, refurbishment, finance and resale costs are unavailable. A reliable flip surplus or maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Buyer premium and VAT, if applicable, are excluded from the guide and not quantified.

• Seller charges and seller VAT election are unknown until the Special Conditions of Sale are reviewed.

• No sufficiently specific rental evidence is available, preventing yield and cash-flow analysis.

• Comparable sales do not include bedroom, floor area, condition or transaction-context details; the £355,000 sale is not demonstrably comparable.

• EPC, council tax, parking, heating, service charge and ground rent information are absent.

• Lease term is stated as 997 years from 31 March 1998, but full lease terms and restrictions remain unreviewed.

Recommendation

Proceed only as a conditional acquisition subject to legal pack, lease and service-charge review, physical inspection, fee/VAT confirmation and independent rental evidence. Do not rely on the apparent GDV spread without verifying comparability and total costs.

Strategy Rating

Analysis Confidence

There is useful completed-sale evidence at the same address and nearby, but no floor area, EPC, charges, rental evidence, condition survey, auction fees or seller special conditions are supplied.