Flat 2308, City Heights, Victoria Bridge Street, Salford Manchester, M3 5AS

Description

TO BE SOLD VIA ONLINE AUCTION ON SEPTEMBER 30TH – OCTOBER 1ST UNLESS SOLD PRIOR UNDER AUCTION TERMS

Flat 2308 City Heights, Victoria Bridge, Salford, M3 5AS

An exciting opportunity to acquire a SPACIOUS AND LIGHT-FILLED APARTMENT with outstanding views across Manchester City Centre. The property comprises an entrance hall, kitchen, dining room currently being used as a bedroom, two bathrooms, a small bedroom and a large living room. The property also benefits from allocated parking. Similar-sized apartments within the development have been utilised as three-bedroom properties, offering potential to reconfigure the existing layout, subject to any necessary consents.

Flat 1502, City Heights, Victoria Bridge Street, Salford, M3 5AS – Sold 15/04/2025 – £165,000

Tenure / Property Information

Council Tax Band: D; Shared Ownership Rent Frequency: 120; Tenure: Leasehold; Annual Service Charge: £4,656.00; Years Remaining on the Lease: 102

Investment Analysis

HB analysis uses the supplied Edward Mellor scrape as the primary property source. Auctioneer facts are separated from HB desktop estimates; all figures should be verified before bidding.

Investment Snapshot

Market Comparables

No priced sold comparable was captured in the supplied scrape. Base GDV £120,000 is an HB desktop estimate because no priced sold comparable was captured in the supplied scrape; independent sold-evidence research is required before bidding.

Proposed Works

HB desktop works allowance: £5,000. Allow for inspection-led repairs, decoration, safety/compliance items and contingency.

Rental Value

The supplied scrape did not provide a reliable local rental benchmark. Obtain current letting-agent evidence before relying on a BTL yield.

Low / Base / High Investment Scenario

BTL Analysis

A defensible BTL yield cannot be calculated from the supplied scrape because a monthly rent was not established.

BRRR Analysis

Using a 75% refinance against the HB base GDV gives indicative refinance proceeds of £90,000. Against purchase plus works of £103,000, indicative cash left in is £13,000. Finance, tax, legal fees and lender valuation haircuts are excluded.

Flip Analysis

At the HB base GDV, after purchase plus works and an indicative 2% selling allowance, the pre-finance/pre-tax flip surplus is approximately £14,600. This is a screening figure, not a formal valuation.

Maximum Bid Indicator

HB Desktop Screening Ceiling: approximately £94,600. This is a desktop screening ceiling only, not a formal valuation or instruction to bid; SDLT, finance, legal fees and property-specific abnormal costs must be added separately.

Strategy Recommendation

Most relevant strategy: Flip / Owner Occupier. The choice reflects the scraped condition/occupancy narrative, available rent evidence and the relationship between the starting bid, works allowance and HB base GDV.

Strategy Rating

BTL ★★☆☆☆; BRRR ★★☆☆☆; Flip ★★★★☆

Key Risks

• lease terms, service charge and ground rent must be checked against the legal pack
• thin priced sold-comparable evidence in the supplied scrape
• rental value requires independent letting-agent verification

Analysis Confidence

Low-Medium. Confidence reflects the quality of the supplied listing information, embedded coordinates/images, and the amount of sold/rental evidence captured in the scrape.