Flat for sale in Salford M5, 2 Bedroom

Property details:

- Recently built apartment block
- 10th floor apartment with balcony
- Secure residents' entrance
- Concierge facilities 24/7
- Residents only onsite cinema room & gym
- Master bedroom with en-suite
- High quality specifications throughout inculding:
- Walnut laminate flooring
- Carpets to the bedrooms
- Handleless door & drawer fronts in the kitchen
- Integrated electric oven, fridge-freezer, dishwasher & washing machine
- Provisions for BT, Sky HD & Virgin Media
- Dedicated hyperoptice, fibre-optic internet provision
- EPC rating B

2 bedrooms; 2 bathrooms; 1 reception
Price: £240,000 Leasehold
Rent: £900 pcm; £10,800 pa
Service Charge: £1,400
Ground Rent: £300
Length of lease: 148 years
Year lease started: 2016
Gross yield: 4.5%
Tenancy type: Ast
Tenancy start date: 21/02/2019
Tenancy term: 20/08/2019
Deposit amount: £850

ves-M5-001

The documents relating to the property are the latest available at the date of listing. Certain documents may expire or become inaccurate over time.

Please note that prospective buyers will be required to pay a fee of £900 per unit to Vesta upon acceptance of an offer on this property. The seller of the property will also pay a fee to Vesta.

Sales Trends:

- Prices in M5 have increased 35% over the last 5 years (-1% over the last 12 months) and are £163,000 which varies by property type (£142,000 for a 1-bed flat to £220,000 for a 5-bed terraced property). On average, there have been 45 properties sold per month in the area in the last 12 months.

- In comparison, prices in the wider Manchester M postcode area are £165,000 (+1% over the last 12 months) and range between £137,000 for a 1-bed flat to £496,000 for a 5-bed detached property.

Rental Trends:

- Rents in M5 are now at £775 per month (+4% over the last 12 months). On average, there have been 47 properties listed for rent per month in the area in the last 12 months.

- Given prices in the area, gross yield is currently 5.2% which is higher than the national average of 4.7% but lower than the wider Manchester M postcode area of 5.7%.

- This property is currently achieving a gross yield of 4.5% which is 16% lower than the area.

Source: REalyse - 26/04/2019 Note: Prices and rent are median and averaged over the last 12 months, unless stated. Data from property listings is taken from c. 20 different sites and agents.