Modern Method of Auction
Auction date not yet published
We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work2-bedroom flat · M5 3LH
For saleListed 79 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This 4th floor luxury two bedroom apartment with balcony and allocated parking comes fully furnished with a tenant in situ - perfect for investors!
This is a great location for those working close by or in Manchester City Centre as the SALFORD QUAYS TRAM STOP is opposite.
Property Details: - Cash purchase only - Leasehold - Idyllic Salford Quays location - Two Bedroom apartment - Tenant is in situ - ideal for investors opposed to owner occupiers (Rent achievable £1,200 pcm) - Balcony - Hyperoptic internet available -Ground rent - £275 - Service charge 2024 - £1936.00 Furnishing/Fittings: - Fully Furnished - Fitted kitchen - Fitted bathroom Local Details: - Lowry Outlet, Lowry Theatre and a variety of bars and restaurants all within working distance - Only 10 minute walk from Salford Quays or Exchange Quay tram stop - Tesco Express nearby - Commutable to Manchester City Centre - Walking distance to Media City X1 Lettings are a member of The Property Ombudsmen Redress Scheme and relevant Client Money Protection Schemes.
- Images are of the show apartment, the size and layout of each apartment varies.
This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period.
Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd). If considering a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee.
For the most recent information on the Buyer Information Pack fee, please contact the iamsold team.
The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc. VAT.
This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.
Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £960 inc. VAT.
These services are optional. Images are for illustrative purposes only and MAY show a similar unit within the development. The images MAY not reflect the exact apartment for sale.
Please ask if you would like us to confirm if the images reflect the actual apartment. EPC Rating: C
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
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 starting price
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 advisers 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
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FAQ
About Elmira Way, Spinner House, M5
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