This stunning third floor apartment is available to move straight into or will make the perfect buy-to-let property investment, with potential for an impressive yield of around 5% net. The luxury apartment is finished to a high specification and consists of open plan living area, floor to ceiling windows, shower room and storage cupboard. The standout feature is the impressive and spacious private balcony which fills the apartment with natural light and provides plenty of space for relaxing and outdoor living.
City Gardens forms part of the Manchester Gardens development, which completed only in recent years by award winning architects and developers and has quickly become a very trendy and desirable neighbourhood. Sitting in the inner-city oasis of Castlefield, at the edge of Manchester city centre, the location is ideal for those wanting to be within walking distance of the city whilst still being able to enjoy green spaces and canals, waterfront bars and restaurants and have easy access to excellent transport links.
Castlefield has benefited from significant regeneration over the past 20 years which has transformed it into a luxury property investment hotspot. This is reflected in figures obtained from Rightmove which show the average price of an apartment in the area currently stands at £353,864, with prices in the last year increasing by 30% and by an outstanding 51% since 2019.
Financial Breakdown
Gross rent: £13,200
Ground rent: £350
Service charge: £1,200
Net income: £11,650
Gross yield: 5.87%
Net yield: 5.18%
Important Note To Purchasers
*Service charge, management fee and ground rent are included as part of the assured rental period.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance, and do not constitute any part of an offer or contract. Neither Yieldit nor the vendor or lessor accept any responsibility in respect of these particulars, which are not intended to be statements or representations of fact and any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
Yieldit ref: Yl-06870
