Flat 402, 90 Princess Street, Manchester, Greater Manchester M1 6NG

Description

A One Bedroom Flat. A leasehold flat comprising: Lounge/kitchen, bedroom and shower room.

Accommodation

Lounge/kitchen; bedroom; shower room. Measurements: Lounge - 3.46m x 4.44m; Bedroom - 2.45m x 3.49m; Bathroom - 1.38m x 1.74m. Approx. 25 sq m.

Location

Situated close to the Northern Quarter of Manchester where there are a number of bars, restaurants and amenities. Also, just a short walk to Oxford Road rail station.

Tenure / Property Information

Investment Analysis

Recent completed sales at the same address range from £60,000 to £105,000 in February 2026, with older sales materially higher. Because comparable flat sizes and specifications are not supplied, £105,000 is used as the base GDV, with a wide £60,000–£125,000 scenario range.

Investment Snapshot

Strategy Recommendation

Potentially suitable for BTL at or near the guide, subject to legal-pack review, service-charge verification and confirmation that nearby asking rents are achievable. Do not rely on BRRR or flipping without valuation and cost evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Inspect the flat and legal pack; allow for only any repairs, compliance works or redecoration identified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide price, known purchase costs are £4,800: £1,200 buyer premium and £3,600 minimum administration charge. A 75% refinance against the £105,000 base GDV indicates £78,750 before finance, valuation and other refinancing costs, theoretically exceeding the analysed £74,800 total cost by £3,950. The outcome is highly dependent on the achievable valuation and rent.

Buy-to-Let Analysis

Using a midpoint advertised rent of £975 pcm gives £11,700 annual gross rent and a 16.71% gross yield on the £70,000 guide price, or 15.64% on the £74,800 purchase-plus-known-cost figure. The £3,737.11 service charge and £284 RPI-linked ground rent materially reduce net income. Rents are asking rents from nearby M1 listings, not achieved rents.

Flip Analysis

The base GDV of £105,000 implies £30,200 before selling costs, finance, tax and any refurbishment. A reliable flip surplus cannot be established because selling costs and refurbishment requirements are unsupported.

Investor Risks & Due Diligence

• Wide variation in completed prices at the same address.

• Comparable sales do not identify flat size, floor, condition or specification.

• Rental figures are advertised asking rents rather than achieved rents and are from nearby M1 listings.

• High service charge of £3,737.11 and RPI-linked ground rent reduce net yield.

• Additional legal-pack disbursements and other purchaser costs are unknown.

• Leasehold legal terms and any building-specific liabilities require legal-pack review.

Recommendation

Potentially suitable for BTL at or near the guide, subject to legal-pack review, service-charge verification and confirmation that nearby asking rents are achievable. Do not rely on BRRR or flipping without valuation and cost evidence.

Strategy Rating

Analysis Confidence

There are recent same-address sales and nearby rental listings, but comparable flat sizes, achieved rents, condition, legal-pack disbursements and refurbishment requirements are unavailable.