Summary - Flat 2, 2 Silverlace Avenue M11 1GP
2 bed 1 bath Apartment
Two-bed buy-to-let near Fairfield and Gorton stations — income until Dec 2025.
- Tenanted at £950pcm until December 2025 (income until tenancy end)
- Approx 693 sq ft, two double bedrooms, open-plan living/kitchen
- Ground-floor with communal courtyard access and double glazing
- Long lease remaining (circa 111 years)
- Service charge £1,589.20pa; ground rent £120pa (RPI increases)
- Chain-free sale but sold with sitting tenant (no vacant possession)
- Built 2007–2011; gas boiler and radiators, fast broadband and mobile
- Located near Fairfield and Gorton stations; area classed very deprived
A straightforward investment in a modern ground-floor apartment close to transport links. The property is currently let at £950pcm on a fixed tenancy until December 2025, providing immediate rental income. With 693 sq ft, two double bedrooms and an open-plan living/kitchen, the layout is practical for long-term tenants or re-let to professionals.
The building is contemporary (constructed 2007–2011) with double glazing, gas central heating and communal courtyard access. Leasehold terms are long (about 111 years remaining) and broadband and mobile signal are good for tenant appeal. The apartment is chain-free and sold with the existing tenancy in place.
Costs and restrictions you should factor in: an annual service charge of £1,589.20, ground rent £120pa (RPI-linked increases every five years) and an area classified as very deprived — factors that influence future rent growth and tenant profile. Gross rental yield on the current rent is approximately 9.9% (based on £950pcm and a £115,000 price), before costs.
Suitable for investors seeking immediate income and a hands-off urban let. Viewings are by appointment and the property is offered with the tenant in situ until the tenancy expiry; vacant possession would follow only after that date.
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