Summary - Apartment 111 Lumiere Building, 38, City Road East M15 4QL
2 bed 2 bath Flat
High-yield modern apartment close to transport and amenities.
- Proven rental income £1,650pcm; 13.2% gross yield at asking price
- Lease 104 years remaining; freehold not included (leasehold)
- Service charge £4,600pa (above-average); ground rent £250pa
- Sold by Modern Method of Auction — 4.5% reservation fee, 56-day completion
- Open-plan living with balcony, en-suite to main bedroom
- Daytime concierge, roof garden and resident gym included
- Allocated underground parking available at additional cost
- Electric room heaters — higher running costs possible
A first-floor two-bedroom apartment in a modern Lumiere development, positioned for strong tenant demand close to Deansgate rail and Metrolink. The open-plan living area opens onto a balcony; the principal bedroom has an en-suite. Residents benefit from daytime concierge, roof garden and a free gym. Underground allocated parking is available at extra cost.
This property has a proven rental history — previous income £1,650pcm (stated), equivalent to a 13.2% gross yield at the current asking price — making it immediately attractive to buy-to-let investors or mortgage buyers looking for income. The lease has 104 years remaining and the EPC rating is C.
Important transactional and running-cost points are straightforward: the property is sold by Modern Method of Auction, requiring a non-refundable reservation fee (4.5% of sale price, minimum £6,600) and completion within 56 days of the buyer’s draft contract. Service charge is £4,600pa (above average) and ground rent £250pa. Heating is by electric room heaters, which may affect ongoing energy costs.
Overall this is a modern, city-centre flat with strong rental credentials and good communal amenities. Buyers should factor in the auction process costs, the high service charge, and electric heating when assessing net returns and suitability for personal occupation.
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