Summary - Apartment 8, The Exchange, 8 Elmira Way, SALFORD M5 3NQ
1 bed 1 bath Apartment
Income-producing flat in a prime media and city transport corridor.
Tenanted at £975 pcm until May 2026 (income-producing)
Fifth-floor one-bedroom, 452 sq ft, open-plan layout
EPC B; fast broadband and excellent mobile signal
127 years remaining on lease — leasehold tenure
Ground rent £250; staged increases, next review 2025
Electric room heaters — higher running costs likely
EWS1 tested; buyers should verify external wall system
Salford Quays growth corridor — strong transport links
A compact one-bedroom apartment on the fifth floor of The Exchange, positioned in the Salford Quays–Manchester growth corridor. With an established tenant paying £975 pcm and a current lease running to 2026, this presents a hands-off income stream for buy-to-let investors seeking immediate yield in a well-connected location.
The apartment offers an open-plan living/kitchen area and a practical double bedroom within 452 sq ft. EPC rated B, fast broadband and excellent mobile signal support strong tenant appeal for professionals and media-sector occupants. The development is close to Exchange Quay and Salford Quays tram stops, MediaCityUK and city-centre amenities.
Lease details are investor-relevant: 127 years remaining and a current ground rent of £250. Note the ground rent structure increases (doubling in staged reviews during early years) with the next review due 2025 — check future outgoings. Heating is by electric room heaters and the property runs on electricity, so factor running costs into yield calculations.
The building has had EWS1 testing and is reported to require no remedial works; buyers should nevertheless make their own enquiries about the external wall system and any interim safety measures. Currently tenanted and marketed as a buy-to-let opportunity only; vacant possession may not be available until the tenancy ends.
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