Summary - Apartment 502, Laurence Place, 2 New Kings Head Yard M3 7GH
1 bed 1 bath Apartment
High-yield investment with tenant until 2026 and balcony views.
Tenant in place until September 2026 (income guaranteed short-term)
505 sq ft one-bedroom apartment with balcony and floor-to-ceiling window
Strong current rental yield ~8.21% (projected up to ~8.53%)
Leasehold; c.247 years remaining from 2021
Service charge c.£1,888.14 pa; ground rent c.£416.63 pa
Electric room heaters — potentially higher running costs
Built 2021 with EPC rating B; EWS1 form available
Council Tax Band B (relatively low local tax)
Set on the fifth floor of a modern 2021 development, this 505 sq ft one-bedroom apartment offers immediate rental income with a tenant in situ until September 2026. The open-plan living area benefits from a large floor-to-ceiling window and a small balcony, bringing natural light and city views over Greengate and Salford. An EWS1 form is available.
The building is part of the award-winning Embankment West regeneration and provides easy access to the Corn Exchange, transport links and a wide range of local amenities including shops, cafes and leisure. The apartment presents strong rental performance: current income shows c.8.2% yield, with projections rising if market rents increase.
Practical considerations are straightforward but important: the flat is leasehold (c.247 years remaining) with an annual service charge of approximately £1,888 and ground rent of c.£416. Heating is via electric room heaters which can mean higher running costs than gas-heated equivalents. The property is best suited to investors seeking an income-producing city-centre asset; owner-occupiers should note the existing tenancy and service costs.
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