2 Bed Flat, Single Let, Manchester, M9 7HQ, £110,000

Freshfields, Spindletree Avenue, Manchester, M9 7HQ - 3 views - 2 months ago

Leasehold
BTL
ROI: 16%
~68 m²
+14 photos

ValuationUndervalued

Sold Prices£57K - £250K
Sold Prices/m²£778/m² - £3.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£1.6K/m²

Value Estimate

£119,825
BMV9%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£27,500

Stamp Duty & Legal Fees

£4,500

Total Cash In

£32,000

 

 

Cash Out

 

Rent Range

£850 - £1,250

Rent Estimate

£1,000

Running Costs/mo

£564

Cashflow/mo

£436

Cashflow/yr

£5,235

ROI

16%

Gross Yield

11%

Local Sold Prices

50 sold prices from £57K to £250K, average is £105.5K. £778/m² to £3.9K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£57K01/210.01 miApartment 32, Freshfields, Spindletree Avenue, Manchester, Greater Manchester M9 7HQ2
£67K04/230.01 miApartment 82, Freshfields, Spindletree Avenue, Manchester, Greater Manchester M9 7HQ2
£169K07/210.12 mi163, Victoria Avenue East, Manchester, Greater Manchester M9 7HW2
£105K10/200.21 mi61, Greetland Drive, Manchester, Greater Manchester M9 6DP2
£112.5K02/210.21 mi65, Greetland Drive, Manchester, Greater Manchester M9 6DP2
£70K10/200.47 mi14, Churston Avenue, Manchester, Greater Manchester M9 6LF2
£100.5K05/210.61 mi54, Evesham Walk, Middleton, Manchester, Greater Manchester M24 1PW2
£95K04/210.61 mi52, Evesham Walk, Middleton, Manchester, Greater Manchester M24 1PW2
£95K12/200.61 mi27, Evesham Walk, Middleton, Manchester, Greater Manchester M24 1PW2
£120K07/230.61 mi25, Evesham Walk, Middleton, Manchester, Greater Manchester M24 1PW2
£128.5K08/220.62 mi50, Evesham Walk, Middleton, Manchester, Greater Manchester M24 1PW2
£113K09/200.63 miFlat 17, Cajetan House, Moss Lane, Middleton, Manchester, Greater Manchester M24 1WY2
£120K08/220.63 miFlat 6, Cajetan House, Moss Lane, Middleton, Manchester, Greater Manchester M24 1WY2
£135K01/230.63 miFlat 7, Cajetan House, Moss Lane, Middleton, Manchester, Greater Manchester M24 1WY2
£225K06/210.66 mi66, Cheltenham Road, Middleton, Manchester, Greater Manchester M24 1HG2
£97K06/210.81 mi470, Lightbowne Road, Manchester, Greater Manchester M40 0HA2
£95K09/230.95 mi16l, Blueberry Avenue, Manchester, Greater Manchester M40 0GF2
£95K08/230.95 mi16k, Blueberry Avenue, Manchester, Greater Manchester M40 0GF2
£93K08/220.95 mi2c, Blueberry Avenue, Manchester, Greater Manchester M40 0GF2
£80K01/211.09 mi16, Cobble Bank, Manchester, Greater Manchester M9 5FA2
£91K07/221.1 mi65, Nepaul Road, Manchester, Greater Manchester M9 4EA2
£137K09/211.2 mi16, Worthington Street, Moston, Manchester, Greater Manchester M40 0BB2
£70K02/211.23 mi2, Edale Avenue, Manchester, Greater Manchester M40 9HU2
£82K06/231.24 mi1, Marshbrook Drive, Manchester, Greater Manchester M9 8NN2
£110K08/221.26 mi3, Thorndale Court, Manchester, Greater Manchester M9 8PZ2
£156K02/221.26 mi16, Clapham Street, Manchester, Greater Manchester M40 0BA2
£118.5K10/211.27 mi34, Whitecroft Meadow, Middleton, Manchester, Greater Manchester M24 1LU2
£98K12/201.27 mi31, Whitecroft Meadow, Middleton, Manchester, Greater Manchester M24 1LU2
£115K09/221.27 mi4, Whitecroft Meadow, Middleton, Manchester, Greater Manchester M24 1LU2
£121K03/231.27 mi35, Whitecroft Meadow, Middleton, Manchester, Greater Manchester M24 1LU2
£95K04/211.29 mi20, Newcroft Drive, Manchester, Greater Manchester M9 8PU2
£130K09/211.31 mi65, Abbeydale Road, Manchester, Greater Manchester M40 0AJ2
£60K11/211.34 miFlat 35, Buckingham House, Kingsmead Mews, Manchester, Greater Manchester M9 0RT2
£150K03/211.46 mi11, Faversham Street, Manchester, Greater Manchester M40 5AR2
£215K07/211.57 mi5, Lindrick Close, Manchester, Greater Manchester M40 3WB2
£116K10/221.62 miFlat 42, Exeter Court, Market Street, Middleton, Manchester, Greater Manchester M24 5TX2
£120K10/231.66 miFlat 2, Ninian Court, Sadler Street, Middleton, Manchester, Greater Manchester M24 5TR2
£110K09/221.66 miFlat 11, Ninian Court, Sadler Street, Middleton, Manchester, Greater Manchester M24 5TR2
£124.5K02/221.67 mi2, Culross Avenue, Manchester, Greater Manchester M40 3SD2
£115K01/221.8 mi4, Station Mews, Failsworth, Manchester, Greater Manchester M35 0GY2
£106K07/231.81 mi29a, Hardman Lane, Failsworth, Manchester, Greater Manchester M35 0DL2
£88K08/221.84 mi41, Grampian Close, Chadderton, Oldham, Greater Manchester OL9 8PT2
£105K02/221.84 mi2, Bromley Street, Chadderton, Oldham, Greater Manchester OL9 8HD2
£95K03/231.9 miFlat 11, Emmanuel Court, Granby Street, Chadderton, Oldham, Greater Manchester OL9 8EG2
£105K10/221.92 mi22, Heywood Court, Middleton, Manchester, Greater Manchester M24 4RR2
£250K09/211.93 mi57, Heywood Old Road, Middleton, Manchester, Greater Manchester M24 4QS2
£75K07/211.93 mi180, Baguley Crescent, Middleton, Manchester, Greater Manchester M24 4GX2
£91.5K11/221.93 mi190, Baguley Crescent, Middleton, Manchester, Greater Manchester M24 4GX2
£128K10/221.94 mi85, Heywood Court, Middleton, Manchester, Greater Manchester M24 4RQ2
£77K03/211.94 mi6, Heywood Court, Middleton, Manchester, Greater Manchester M24 4RR2

Local Rents

14 rents from £850/mo to £1.3K/mo, average is £1K/mo.

RentDateDistanceAddressBeds 
£1,10007/240.01 mi-2
£1,25003/250.01 mi-2
£97505/240.01 miFreshfields, Spindletree Avenue, Manchester, M92
£1,00008/240.01 miFreshfields, Manchester, M92
£85005/240.21 miGreetland Drive, Blackley2
£1,05005/240.56 miSycamore Road, Blackley, Manchester, M9 7GN2
£1,15008/240.56 miSycamore Road, Blackley, Manchester, M9 7GN2
£1,20006/240.56 miEvesham Road, Middleton2
£92505/240.57 miEastgate, Manchester, M92
£87505/240.57 miAinsbrook Avenue, Manchester2
£95008/240.6 miApt 6, 16 Kilmaine Avenue, Manchester, Greater Manchester, M9 7FN2
£1,00003/250.61 mi-2
£1,20001/250.61 mi-2
£85005/240.62 miEast Gate, 261 Victoria Avenue East, Blackley, Manchester, M92

Local Area Statistics

Population in M9

39,412

Population in Manchester

920,095

Town centre distance

5.56 miles away

Nearest school

0.10 miles away

Nearest train station

1.02 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+45%

Sales demand

Seller's market

Capital growth (5yrs)

+60%

Property History

Listed for £110,000

January 30, 2025

Floor Plans

Description

  • Residents Gymnasium +
  • Communal Lift +
  • Mortgage buyers welcome +
  • High specification interior +
  • Fitted Kitchen +
  • Electric heating system +
  • uPVC Double Glazing +
  • Secure allocated parking +

Freshfields is a landmark development/conversion by LPC, located within four and a half miles of Manchester City Centre and within one mile of Metrolink tram station, railway and motorway network.

This impressive, attractively appointed, well presented, 3rd floor apartment overlooks the front of the building with extensive views and is approximately 656 sq ft with an electric heating system, uPVC double glazing, intercom entry, communal lifts.

To the rear of the development is a secure perimeter car park with electronically operated gates and one designated parking space.

The property is likely to appeal to owner occupier or property investor with a rental potential of approximately £1,000 pcm.

We are presently awaiting an updated EWS1 certificate, all remedial works carried out under the government building safety fund. Note, the ground rent has a deed of variation restricting the ground rent rising.

ACCOMMODATION

Ground Floor: Communal Entrance Hall with intercom entry bell system, staircase and communal lifts to all floors.

Communal 3rd floor landing: Apartment

Reception Entrance Hall with front door, beech finish strip flooring, wall heater.

Impressive Lounge/Dining Room/Kitchen (front) measuring 25 ft 9 (7.85m) x 11 ft 4 (3.45m) with beech finish strip flooring, feature uPVC double glazed full width bay window with superb views, side uPVC double glazed window, wall heater.

High specification Kitchen Area with fitted units with beech finish doors and slate effect worktops incorporating a range of wall and base cupboards, stainless steel extractor hood, ceramic hob, electric under oven, recess for fridge/freezer, one and a half bowl single drainer sink unit. Walk in utility cupboard with hot water cylinder and space and plumbing for washing machine.

Bedroom One (front) measuring 12 ft 11 (3.94m) x 8 ft 2 (2.49m) with wall heater, uPVC double glazed window, carpeted.

Bedroom Two (front) measuring 11 ft 10 (3.61m) x 7 ft 6 (2.29m) with uPVC double glazed window, wall heater, carpeted.

Luxury Bathroom/WC combined (mid) with high specification white Villeroy Boch suite comprising low level WC, wall basin, bath with glazed shower screen and over bath shower, vanity plinth, mirror, ladder radiator, extractor fan, part tiled walls, ceramic tiled floor.

Outside to the rear of the building there is a secure perimeter gated car park with electronically operated gates and one designated parking space and on the ground floor of the building there is a residents? gymnasium which is presently undergoing refurbishment.

Tenure

We are advised by the vendor the property is believed to be long leasehold for the residue of 125 years from 17/03/2005 (105 years remaining). Depending on the Leasehold /Freehold title any current Ground/Chief Rent, if applicable, together with current service charge details are to be confirmed by the Vendors solicitor (but are available on request from our office at any time). Note, the ground rent has a deed of variation restricting the ground rent rising.

Service Charge

There is a service charge payable to the Management Company and further details are available on request from our office.

Please note: we are required under the Estate Agents Act 1979, and the Provision of Information Regulations 1991, to point out the client we are acting for on the sale of this property is an employee and therefore a 'connected person' as defined by that Act.

Local Authority is Manchester City Council

Council Tax Band: A

Directions

Travelling from Manchester City Centre in the direction of Blackley, proceed along Rochdale Road eventually coming to the traffic light junction with Victoria Avenue East, turn right into Victoria Avenue East and then turn fifth right into Colmore Drive, then turn left into Spindletree Avenue where Freshfields can be found on the left hand side.

Agent Details

Lawrence Copeland (Town & City Centre), Manchester

0161 524 3940

Next Steps?

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