3 bed Flat (for sale) Manchester Apartments, Piccadilly, Greater Manchester M1
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1 Spinningfields, Quay Street, Manchester
0161 937 1433
12th Jan 2023
12th Jan 2023
Features
- Type: Flat
- Bedrooms: 3
- Listing status: sale
- Country: England
Description
Completed Manchester City Centre Apartments located minutes walk from Piccadilly. Spacious 3 Bedroom Apartments Available. 6% Estimated Rental Yields and 10% Deposit Required. The development offers a ressidents lounge, gym and parking.
Completed Manchester City Centre Apartments located minutes walk from Piccadilly. Spacious 3 Bedroom Apartments Available. 6% Estimated Rental Yields and 10% Deposit Required. The development offers a ressidents lounge, gym and parking.
Why manchester?
While property prices in Manchester have increased 30% in the last five years, industry experts forecast a further price increase of 20-28% by 2024, with rent prices rising by at least another 16% in that time. This makes Manchester the standout buy-to-let market with the opportunity for high capital appreciation, high rental yields, and low void periods.
Why buy off-plan?
Some investors avoid in off plan property because they don’t want their funds ‘tied up’ over the build period.. However, what a lot of people do not realise is that when putting a deposit down on an off-plan property, your funds are working very hard.
Let’s take the example of the above unit:
• The development completes in Q2 2024
• The property costs £420,000
• You put a 25% deposit down of £103,000
• You gain 6% capital growth over the build period, meaning the property price has grown by £25,200
• You haven’t made 6% on your money because you have only invested £103,000
• You have made 24% roi just on the potential capital gain over the build period alone<br /><br />
Local info for M1
Property Value Data/Graphs for M1
| Property Type | % | Avg. current value | Avg. # beds | Avg. # bathrooms |
|---|---|---|---|---|
| Flat | 91.5% | £223,020 | 1.6 | 1.2 |
| Studio | 4.1% | £168,709 | 0 | 0.9 |
| Town house | 2.6% | £317,778 | 2 | 2 |
| Other | 1.2% | £348,749 | 2.3 | 1.5 |
| Terraced house | 0.3% | £325,000 | 2 | 1 |
| Block of flats | 0.3% | £780,000 | 0 | 0 |
Area Information
£215,929
1446
£226,688
£10,759 5%
Current Asking Prices in M1 Average: £226,688
| Property Type | 1 Bed | 2 Beds | 3 Beds | 4 Beds | 5 Beds |
|---|---|---|---|---|---|
| Houses | - | £325,384 (13) | £350,000 (1) | - | - |
| Flats | £176,484 (137) | £255,731 (156) | £286,644 (20) | - | - |
| All | £176,484 (137) | £261,089 (169) | £289,661 (21) | - | - |
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