Summary - Elmira Way, Salford, Greater Manchester, M5 M5 3NQ
2 bed 2 bath Apartment
Turn-key rental with strong gross yield in a media corridor.
Two double bedrooms with en suite to main bedroom
A practical, turn-key investment in The Exchange — a second-floor, two-double-bedroom apartment with strong rental credentials. The property is currently tenanted at £1,200pcm until 26 January 2026, offering immediate income and an attractive gross yield of about 9% at the asking price of £160,000. The 688 sq ft layout includes an open-plan living area, two bathrooms (one en suite) and a sizeable covered balcony that extends usable living space year-round.
The lease is healthy at approximately 127 years remaining, and an EWS1 form (August 2021) confirms no remedial cladding works were required at that time. EPC rating C and fast broadband/mobile connectivity suit typical tenant demands in this Salford Quays growth corridor location. Proximity to Exchange Quay and Salford Quays tram stops, MediaCityUK and Manchester city centre supports consistent letting demand.
Investors should note the running costs that affect net returns: an average service charge of £2,950 per year and ground rent of £250 with RPI reviews every five years (first review March 2025). Heating is by electric room heaters, which can mean higher tenant energy use or requests for future upgrades. The apartment is sold leasehold and is offered with a sitting tenant — viewings will be arranged with respect to the tenancy.
Overall, this is a modern, income-producing apartment in a high-demand commuter and media neighbourhood. It suits buy-to-let investors seeking immediate cashflow and low-management refurbishment needs, while being transparent about service charges, heating type and the fixed in-situ tenancy.
2 bedroom apartment for sale in The Exchange, 8 Elmira Way, Salford, Greater Manchester, M5 — £160,000 • 2 bed • 2 bath • 644 ft²
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2 bedroom apartment for sale in X1 The Exchange, 8 Elmira Way, Salford, Manchester, M5 3NQ, M5 — £155,000 • 2 bed • 2 bath • 614 ft²
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