Apartment 306, Transport House, 1 Crescent, Salford, M5 4JN Two-Bedroom Investment Apartment | Tenanted | 12% Current Gross Yield | Potential 15%+ Gross Yield
Apartment 306, Transport House, 1 Crescent, Salford, M5 4JN
Two-Bedroom Investment Apartment | Tenanted | 12% Current Gross Yield | Potential 15%+ Gross Yield
Town & Country Property Auctions are delighted to offer this two-bedroom apartment in Transport House, 1 Crescent, Salford, presenting an exciting opportunity for investors seeking an income-producing property with potential to enhance returns.
Situated on the western fringe of Manchester city centre, the apartment is ideally located for access to Spinningfields, Deansgate, Salford Central and the wider Manchester employment district. The surrounding area benefits from a range of local amenities, restaurants, leisure facilities and public transport connections, making it an appealing location for professionals and commuters.
The property is currently tenanted, generating £800 per calendar month (£9,600 per annum), providing an immediate rental income for the incoming purchaser. There is also potential to increase the rental income to in excess of £1,000 per calendar month, subject to market conditions, the tenancy arrangements and any applicable restrictions.
At the £80,000 guide price, the current rental income equates to an attractive 12% gross rental yield. Should the rental income reach £1,000 per calendar month, the gross yield would increase to 15% per annum, offering a compelling proposition for landlords looking to maximise their investment returns.
The two-bedroom configuration is well suited to the rental market, with potential appeal to professional tenants seeking convenient access to Manchester city centre and surrounding employment hubs.
Investment Summary
- Guide price: £80,000
- Current rental income: £800 pcm (£9,600 per annum)
- Current gross yield: 12%
- Potential rental income: In excess of £1,000 pcm
- Potential gross yield: In excess of 15%
This is an opportunity to acquire a tenanted apartment in a well-connected Greater Manchester location, with existing income and potential to improve the rental return.
Prospective purchasers should satisfy themselves as to achievable rental values and undertake their own due diligence regarding the lease, service charges, ground rent, tenancy arrangements and legal pack before bidding.
Gross yields are calculated against the guide price and exclude purchase costs, service charges, maintenance, management fees, void periods and other expenses. The potential rental figure is an estimate and is not guaranteed.
Leasehold
£4000 plus vat
Each Lot is sold in its existing condition and state of repair. Buyers are deemed to have inspected the Property and satisfied themselves as to its condition, structure and suitability prior to bidding. Town & Country Property Auctions gives no warranty or guarantee as to the condition, structure, construction, repair or suitability of any Property, or the working order of any fixtures, fittings, services, heating systems or appliances included in the sale. No objection, claim or recourse shall be made against Town & Country Property Auctions in respect of these matters. Purchasers requiring mortgage finance or other funding are advised to arrange this prior to the auction and should satisfy themselves that the Property meets their lender's requirements. Material information relating to the Property will be provided within the Legal Pack. To download the Legal Pack, please visit tcpa.co.uk.
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer’s Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘LEGAL DOCUMENTS’. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
Current rent: £800 per calendar month (£9,600 per annum).
Gross yield at current rent: 12% per annum.
Potential rent: £1,000+ per calendar month (£12,000+ per annum). Potential yield of 15% plus
* The Guide Price given is an indication as to where the Reserve is currently set. The Reserve is the minimum price that the auctioneer is authorised by the vendor to sell the property for. It is subject to change throughout the marketing period. Where the Guide Price is a single figure, the current Reserve will not be more than 10% above that single figure, and where a price range is given (i.e. £50,000 - £55,000), the Reserve will not exceed the upper level of the range. It is not necessarily what the auctioneer expects it will sell for.
We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms' employment has the authority to make or give any representation or warranty in respect of the property.
Viewing: Due to the nature and condition of auction properties, the auctioneers highlight the potential risk that viewing such property carries and advise all to proceed with caution and take necessary requirements to ensure their own safety whist viewing any lots offered. Viewings are conducted entirely at the potential buyers own risk, these properties are not owned or controlled by Town & Country Property Auctions and the auctioneers will not be held liable for loss or injury caused while viewing or accessing the lot. Due to the nature of some auction properties, electricity may not be turned on, therefore viewing times are restricted. Viewers will need to bring their own lighting/ ladders if wanting to inspect cupboards, cellars and roof spaces. Some viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Town & Country Property Auctions will not be liable for any costs or losses incurred due to viewing cancellations or no shows.
All auctioneer fees and deposits stated are non-refundable. The deposit will be applied toward the final purchase price. Auctioneer fees, while not contributing to the purchase price, will still be included in the total chargeable consideration of the property when calculating Stamp Duty Land Tax, Land Transaction Tax, or Land and Buildings Transaction Tax (as applicable depending on whether the property is located in England, Wales, or Scotland).
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