Studio · M3 7NH
Sold STCListed 544 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Situated in the 5 star apartment/hotel that is city suites *** this studio apartment would be ideal for first time buyers & young professionals looking to get on the property market *** this property is fully furnished throughout *** walking distance into manchester city centre with its array of shops, bars, restaurants, supermarkets & all the local amenities that A city centre has to offer *** manchester victoria & salford crescent train stations & market street tram stop all under half A mile from the property *** early & internal viewing highly recommended *** Communal Entrance Entry into the building via Intercom system however there is a 24 hour concierge on site with lifts and stairs to all floors.
Entrance Hall Wooden flooring, wall mounted intercom system and separate storage cupboards/wardrobes.
Bedroom/Lounge Wooden flooring, spot lights to ceiling, double bed, dining table, television and double glazed window.
Kitchen The kitchenette comes with sink unit, two ring hob, oven and grill, dishwasher and fridge freezer.
Shower Room A three piece suite comprising of shower unit, sink unit, low level WC, fully tiled walls and flooring, spot lights to ceiling and wall mounted stainless steel heated towel rail.
Property Description Being sold using the Reservation fee process. Reservation fee is a new, innovative and pioneering process for buying and selling property.
It significantly reduces the risk of gazumping or double selling by offering security to both parties by gaining a commitment from both parties to buy and sell.
This property is offered for sale using the Reservation fee process.
When an offer is accepted, the buyer will be required to pay a non-refundable Reservation fee of £2,016 including VAT (in addition to the final negotiated selling price), sign the Reservation Form and agree the Terms and Conditions prior to solicitors being instructed.
If you require a copy of these documents, or for further information, please contact the Reservation fee team at goto Group.
This will secure the transaction, and the property will be taken off the market. The Buyer’s Premium and administration charge are in addition to the final negotiated selling price.
Buyer's Administration Charge If the Buyer Information Pack has been produced and provided by goto Group any successful purchaser will be required to pay £396.00 (including VAT) towards the cost of the preparation of the pack.
These can then be used by your solicitor to progress the sale.
Buyer Fees • Stamp Duty Land Tax (sdlt) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland.
Material information: The information above has been provided by the vendor, agent and goto Group and may not be accurate. Please refer to the property’s Legal Pack.
(You can download this once you have registered your interest against the property). This pack provides material information which will help you make an informed decision before proceeding.
It may not yet include everything you need to know so please make sure you do your own due diligence as well.
Property Ownership Information Tenure Leasehold Council Tax Band A Annual Ground Rent £648.99 Ground Rent Review Period No review period Annual Service Charge £6,321.60 Service Charge Review Period No review period Lease End Date 28/09/2266 Property Description Disclaimer This is a general description of the property only, and is not intended to constitute part of an offer or contract.
It has been verified by the seller(s), unless marked as "draft".
Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it.
If you require clarification on any point then please contact us, especially if you’re traveling some distance to view.
All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering and proof of funds checks.
Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer.
You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale.
The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits.
Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisors before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
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FAQ
About Apt 405 City Suites, 16 Chapel Street, Salford
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