2 Bed Flat, Cash/Bridging Only, Manchester, M4 5DB, £135,000

Express Networks, Oldham Road, Manchester, M4 5DB - 10 days ago

Auction
Cash
ROI: 3%
~68 m²
+3 photos

ValuationFair Value

Sold Prices£130K - £487K
Sold Prices/m²£2.4K/m² - £4.2K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2K/m²

Value Estimate

£135,000

 

 

End Value (After Refurb)

£248,071

Uplift in Value

+84%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£7,950

Refurb Costs

£28,709

Bridging Loan Interest

£3,544

Total Cash In

£75,703

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£248,071

Agent Fees (1%)

£2,481

Bridging Loan

£101,250

Bridging Loan Interest

£3,544

Flip Profit

£68,638

Local Sold Prices

22 sold prices from £130K to £487K, average is £205.3K. £2.4K/m² to £4.2K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£257K10/210.16 miFlat 50, M M2 Apartments, Pickford Street, Manchester, Greater Manchester M4 5BS2
£487K03/230.17 mi11, Marshall Street, Manchester, Greater Manchester M4 5FU2
£270K05/230.43 mi17, William Jessop Court, Manchester, Greater Manchester M1 2NE2
£270K03/210.45 mi4, John Smeaton Court, Manchester, Greater Manchester M1 2NR2
£220K01/240.61 miBlock D, Apartment 59, Pollard Street, Manchester, Greater Manchester M4 7AT2
£250K11/230.65 miFlat 25, Sackville Place, Bombay Street, Manchester, Greater Manchester M1 7AT2
£213K03/210.65 miFlat 51, Sackville Place, Bombay Street, Manchester, Greater Manchester M1 7AT2
£220K12/220.68 miApartment 39, Venice Court, Samuel Ogden Street, Manchester, Greater Manchester M1 7AX2
£180K10/200.68 miApartment 30, Venice Court, Samuel Ogden Street, Manchester, Greater Manchester M1 7AX2
£207.5K12/200.7 miFlat 21, Granby House, Granby Row, Manchester, Greater Manchester M1 7AR2
£203K02/230.7 miFlat 31, Granby House, Granby Row, Manchester, Greater Manchester M1 7AR2
£234K06/210.83 miApartment 381, Block 7 Spectrum, Blackfriars Road, Salford, Greater Manchester M3 7BY2
£199.9K10/200.83 miApartment 222, Quebec Building, Bury Street, Salford, Greater Manchester M3 7DU2
£150K09/230.87 miApartment 219, Quebec Building, Bury Street, Salford, Greater Manchester M3 7DY2
£150K05/230.91 mi12, Twillbrook Drive, Salford, Greater Manchester M3 7AR2
£140K11/200.91 mi12, Twillbrook Drive, Salford, Greater Manchester M3 7AR2
£130K02/210.94 mi11, Georgette Drive, Salford, Greater Manchester M3 7AF2
£150K08/210.94 mi1, Georgette Drive, Salford, Greater Manchester M3 7AF2
£178K09/210.94 mi36, Bridgewater Street, Salford, Greater Manchester M3 7AS2
£170K03/210.97 mi10, Hursthead Walk, Manchester, Greater Manchester M13 9UT2
£170K09/210.99 miFlat 12, Model Lodging House, Bloom Street, Salford, Greater Manchester M3 6AJ2
£330K12/220.99 miFlat 36, Model Lodging House, Bloom Street, Salford, Greater Manchester M3 6AJ2

Local Rents

51 rents from £730/mo to £2.5K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£2,00001/250 mi-2
£1,50002/240.01 mi-2
£1,80006/240.01 mi-2
£1,80006/240.01 miLuna Street, Manchester, M42
£1,80005/240.02 miHenry Street, Manchester2
£1,35005/240.02 mi-2
£1,22505/240.02 miExpress Networks 3, 6 Oldham Road2
£1,22505/240.02 miExpress Networks, 6 Oldham Road2
£1,30006/240.02 miConnect House, 1 Henry Street, Manchester, M42
£1,10005/240.03 miApartment 402 6 Oldham Road, Manchester, M42
£1,25006/240.03 miExpress Networks 3, 6 Oldham Road, Manchester, M42
£73002/240.03 mi-2
£1,49512/240.03 mi-2
£1,29505/240.04 miDerros Buildings, 2 George Leigh Street2
£1,19506/240.05 miHudson Building, 29 - 37 Great Ancoats Street, Ancoats, Manchester, M4 5AE2
£1,19506/240.05 miHudson Building, 29 - 37 Great Ancoats Street, Ancoats, Manchester, M4 5AE2
£1,07505/240.05 miHudson Building, Ancoats, M42
£1,40002/250.05 mi-2
£1,20002/250.05 mi-2
£1,70005/240.06 miCotton Street, Ancoats2
£1,85006/240.06 miAlumni Court, 1 Cotton Street, Manchester, M42
£1,69506/240.06 miBurton Building, 90-94 Oldham Street, Northern Quarter, Manchester, M4 1LJ2
£1,56005/240.06 mi2 Addington Street, Manchester, Greater Manchester, M42
£1,64003/240.06 miPoplin 2 Addington Street, Manchester, Greater Manchester, M42
£1,60505/240.06 miApt 13, Addington Street, Manchester, Greater Manchester, M42
£1,62005/240.06 miApt 40, Addington Street, Manchester, Greater Manchester, M42
£1,72006/240.06 miApt103, 2 Addington Street2
£1,62512/240.06 miApt04, Addington Street, Manchester, Greater Manchester, M42
£1,50001/250.06 mi00113, 2 Addington Street, Manchester, Greater Manchester, M42
£1,55005/240.06 miBroadside, Oldham Road, M42
£1,50005/240.07 miBroadside, Oldham Road M42
£1,47505/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,77205/240.07 miHenry Street, Manchester, Greater Manchester, M42
£1,79805/240.07 miHenry Street, Manchester, Greater Manchester, M42
£1,45003/240.07 miBroadside, Oldham Road, M42
£1,57503/240.07 miBroadside, Oldham Road M42
£1,42503/240.07 miBroadside, Manchester, M42
£1,45006/240.07 miBroadside, Manchester, M42
£1,50002/250.07 mi-2
£1,42506/240.07 miBroadside, Manchester, M42
£2,50005/240.07 miManchester, M42
£2,50005/240.07 miManchester, M42
£1,57003/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,59903/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,56603/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,61205/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,55006/240.07 miBlossom Street, Manchester, Greater Manchester, M42
£1,17505/240.07 miAnita Street, Manchester, M4 5DU2
£1,50005/240.07 miBroadside, Oldham Road, M42
£1,50005/240.08 miBroadside, 43 Oldham Road, M42
£1,58505/240.08 mi2 Addington Street, Manchester, Greater Manchester, M42

Local Area Statistics

Population in M4

10,600

Population in Manchester

920,095

Town centre distance

2.18 miles away

Nearest school

0.30 miles away

Nearest train station

0.37 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+33%

Sales demand

Buyer's market

Capital growth (5yrs)

+3%

Property History

Listed for £135,000

March 5, 2025

Description

  • Fantastic Two Bedroom Apartment +
  • Currently Tenanted at £1225pcm +
  • Great Investment Oppurtunity +
  • Open To Owner Occupiers +
  • New Islington & Northern Quarter Right On Your Doorstep +
  • Short Walk To Piccadilly Train Station +
  • Balcony Over Looking City Skyline +
  • EPC Rating C +

CASH BUYERS ONLY / MODERN METHOD OF AUCTION

*Currently Tenanted Until March 2025* Perfect opportunity to purchase this impressive two bedroom apartment located in the popular Express Networks in Ancoats. Located on the junction of Great Ancoats Street and Oldham Road, you will be within walking distance to the young and vibrant New Islington Marina and the Northern Quarter, both of these locations are home to a plethora of coffee shops, restaurants and bars. Transportation links are also a stones throw away which includes metro links and Piccadilly train station.

The apartment itself comprises of an entrance foyer, large open plan living/dining area with access to a balcony with stunning views of the city centre skyline. Fully integrated kitchen with ample of space for storage, master bedroom with an ensuite, second generously sized double bedroom and the main three piece family bathroom. This accommodation is the perfect purchase for first time buyers looking to live in the city centre or an investor looking for a great rental yield. please call our office to arrange access!

Length of Lease - 150 years from 2007
Service Charge - £942 Quarterly (building insurance included)
Ground Rent - £150 per annum
EPC Rating C
Council Tax Band C

Auctioneer Comments This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a

Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change. Referral Arrangements The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

Agent Details

Bentley Hurst, Manchester

0161 524 6179

Next Steps?

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