The property comprises a prime canalside development offering 10 fully furnished 2 bedroom residential apartments spread across two separate blocks (goodwin and Wilson) fitted to a high specification with parking bays. The development is of masonry construction spread over seven storeys combining contemporarty living with facades informed by the heritage of Castlefield.
The apartments are accessed off a central paved and landscaped area which separates the two buildings and provides separate access to the secure car park. The ground floor provides a reception area with access to passenger lifts and stairwells.
Internally, the 10 apartments are all 2 bedroomed and furnished to a very high standard. The apartments consist of a hallway, open plan kitchen and living room with integrated appliances, one double bedroom, a master bedroom with an ensuite and a family bathroom. All the apartments have spacious balconies/terraces of varying sizes.
Location
Castlefield is one of Manchester’s most prestigiousand best loved areas, located in the heart of theCity Centre, bordered by the River Medlock, theRochdale Canal and the Bridgewater Canal.
It offers a distinctive mix of industrial heritage, scenic waterways,vibrant cultural/leisure spots and modern urban development. Thearea provides access to a host of trendy bars, boutique restaurantsand independent retail offerings mostly situated around the variouswaterways.
Castlefield is located within Manchester's inner ring road, within walking distance of Deansgate and Manchester City Centre. It is an ideal location for those seeking a dynamic yet tranquil place to live. The properties are located beside the Bridgewater Canal on the southside of Potato Wharf, in close proximity to Trinity Way, the main City Centre arterial route.
Accommodation
10 x 2 bedroom apartments
Terms
Guide Price - Offers in excess of £2,750,000 are invited. This reflects a Net Initial Yield of 6.38% assuming standard purchasers costs of 6.42%.
Tenure - Individual long leasehold interests (999 years) from March 2022. We understand a combined ground rent of £2,400 and a service charge of £25,591 per annum is payable.
Tenancies - All apartments are occupied on 6 and 12 month AST’s.
Legal Costs - Each party is responsible for their own legal costs incurred throughout the transaction.
Services - Mains water, drainage and electric are all connected to the property.
Specification
- One of the most recognisable residential developments in Manchester City Centre
- Prime city centre location in the desirable Castlefield area
- 10 x 2 bedroom apartments held by virtual Freeholds
- 10 x parking bays
- Fully let currently producing £186,600 pa (£15,550 pcm)
- Incredibly strong demand and reversionary potential
- Recent sale evidence achieving a sale price in the region of £360k per apartment
- All let on a fully furnished basis
- Offers considered in excess of £2,750,000