Summary - Wilburn Basin, Ordsall Lane, Salford, M5 M5 4XR
2 bed 2 bath Apartment
Modern 2-bed riverside apartment with long lease and established rental income.
Two bedrooms and two bathrooms in a 721 sq ft open-plan layout
Long lease: approximately 242 years remaining (from 2017)
Currently tenanted until July 2026; rental yield ~6.78% (£1,300 pcm)
Projected rent £1,350 pcm (approx. 7.04% yield)
Service charge ≈ £2,111.90 pa; ground rent £300 pa; building insurance ≈ £639.20 pa
Electric room heaters — likely higher running costs than gas heating
Located riverside, walking distance to Spinningfields and major amenities
Advertised “CASH only” yet listing also states mortgage buyers welcome — verify
This two-bedroom, two-bath apartment in Wilburn Basin offers a modern, low-maintenance investment close to Manchester city-centre. At about 721 sq ft, the open-plan layout and contemporary build (2017) suit tenants seeking city living with easy access to Spinningfields, local retail and transport. The building includes residents’ amenities such as a gym, cinema room, meeting rooms and landscaped gardens.
Financially the flat presents clear rental income potential: currently let at £1,300 pcm (6.78% yield) with a projected rent of £1,350 pcm (7.04% yield). Tenanted until July 2026, it is sold leasehold with c.242 years remaining, an EWS1 form available and a typical service charge of c.£2,112 pa plus ground rent of £300 pa and building insurance c.£639 pa.
Practical points for buyers: heating is by electric room heaters, which can mean higher running costs than gas-heated homes. The wider area is classed as deprived and the property is in a busy student/commuter neighbourhood — good for lettings but not for buyers seeking quiet suburban streets. The listing also contains conflicting notes about purchase conditions (“CASH only” vs “Mortgage Buyers Welcome”); buyers should confirm acceptable funding routes with their solicitor.
Overall this is a straightforward, modern inner-city apartment that will appeal to buy-to-let investors and owner-occupiers wanting commuter convenience. The established rental income and long lease are strengths, while electric heating, ongoing service charges and the local area profile are factual considerations when assessing returns or lifestyle suitability.
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