Summary - Apartment 711, The Exchange, 8 Elmira Way M5 3NQ
2 bed 2 bath Flat
Turnkey rental with strong yield in Salford Quays.
Tenth-floor two-bed, two-bath with balcony city views
Currently tenanted — income £1,275 pcm (£15,300 pa)
Gross yield ~9.3% ; net yield ~6.5% after fees
Service charge circa £2,706.50 per year
Ground rent £250 pa; lease c.130 years remaining
Compact size 614 sq ft — smaller living footprint
Electric heating via room heaters, higher running costs possible
EWS1 approved; on-site gym and overnight security
This tenth-floor two-bedroom, two-bathroom apartment in The Exchange offers an immediate rental income stream in Salford Quays. Currently tenanted and producing £1,275 pcm, it suits buyers seeking a ready-made investment with strong gross yield and long lease length.
The apartment is compact (614 sq ft) and comes furnished with a balcony overlooking the city. The living spaces are modern and well-lit; finishes are contemporary and the development provides on-site gym access and nightly security. EWS1 approval is in place.
Running costs and tenancy details affect net returns: the service charge is circa £2,706.50 per year and ground rent £250 per year, reducing net yield to about 6.5% after management. Heating is electric (room heaters), and the flat is smaller than many two-bed alternatives — important for owner-occupiers seeking space.
Location benefits from excellent transport links, fast broadband and a wide leisure and retail offer around MediaCityUK. The neighbourhood is predominantly a cosmopolitan, student-focused area, which supports rental demand but can bring higher footfall and local activity levels outside typical residential streets.
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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2 bedroom flat for sale in The Exchange, 8 Elmira Way, Salford Quays, Greater Manchester, M5 — £170,000 • 2 bed • 2 bath • 614 ft²
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