1-bedroom flat · M3 4JU
For saleReduced £10k (−5.1%) on 24 MayListed 214 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Julie Twist Properties are pleased to welcome to the market this lovely one-bedroom apartment located within the beautifully converted 183 Water Street, on the edge of Castlefield.
There are only nine apartments in total, making this development very sought-after.
Upon entering the property, you are met with an open-plan living area that has high ceilings and large windows, allowing floods of light to fill the space.
The kitchen is well-equipped and partially open-plan to the living space. There is also a double bedroom with ample storage space and a fully-renovated three-piece bathroom.
There is one parking space included with the property which is accessed via fob-entry sliding gates.
Residents have access to a landscaped, communal outdoor seating area which is perfect for enjoying your evenings.183 Water Street is boutique conversion development located in historic Castlefield with easy access of Salford Quays and the Mancunian Way, plus it is only a ten-minute walk from Deansgate and to the Slate Wharf area, putting you within reach of a variety of bars, shops, restaurants, canal waterways and transport links.
GENERAL: Rental Yield: 6.8% based on an estimated rental income of £1050pcm.
Service Charge: £1270.56 per annum (includes Buildings Insurance) Ground Rent: £0 - Peppercorn Ground Rent Review Period: N/A Lease: 999 Years from 1999 Floor Area: 387 sq.ft / 36 sq.m approx Council Tax Band: C Management Company: Block Management Living Area The living area comprises high ceilings, two large double-glazed windows, wooden flooring, electric panel heaters, ceiling lights and wall lights and access to a storage cupboard.
Kitchen Partially open plan to the living area, the kitchen comprises wall and base units, freestanding fridge, built-in oven with four-ring hob and extractor over, space for a dishwasher, stainless steel sink with mixer tap, wooden flooring, spotlights and floor-to-ceiling double-glazed windows.
Bedroom Two large double-glazed windows, high ceilings, carpeted flooring, ceiling lighting and electric panel heaters.
Bathroom A beautifully renovated three-piece bathroom comprising a walk-in shower, WC, sink with mixer tap, wall-mirror, heated towel rail, tiled walls, tiled flooring, extractor and spotlights.
Parking One parking space is included within the sale of this property (not allocated).
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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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
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FAQ
About 183 Water Street, Castlefield, Manchester
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