1 bed flat for sale

Michigan Avenue, Salford M50

B Owner Group proudly presents this one-bedroom apartment positioned on the 21st floor of X1 Media City Tower 1, offering an attractive investment opportunity within the established MediaCity and Salford Quays area.

Offered for sale at £125,000, the property is currently tenanted at £1,000 per calendar month, generating £12,000 in annual rental income and providing an impressive 9.6% gross rental yield at the asking price.With an existing tenant already in occupation, the property provides an incoming investor with an established rental income from completion, making it particularly well suited to buyers seeking an income-producing buy-to-let investment.

The Apartment

Situated on the 21st floor, the apartment benefits from an elevated position within the development. The accommodation comprises one bedroom and one bathroom, together with a contemporary open-plan kitchen, living and dining area, providing a practical layout for modern city living.
Its high-floor position, existing tenancy and location within the MediaCity area combine to create an attractive proposition for investors.

Investment Opportunity

At the £125,000 asking price, the existing rent of £1,000 pcm provides annual gross rental income of £12,000, equivalent to a 9.6% gross rental yield.
The stated service charge is approximately £424 per quarter (£1,696 per annum), with ground rent currently stated as £250 per annum.
Based solely on these two stated costs, the rental income after service charge and ground rent would be approximately £10,054 per annum, equivalent to approximately 8.04% of the asking price before any other applicable costs such as management, maintenance, insurance, taxation or financing.

Lease

The property benefits from an exceptionally long lease, originally granted for 975 years less five days from 1 January 2016, leaving approximately 964 years remaining.

The lease provides for ground rent reviews on 31 December 2025 and every tenth anniversary thereafter, subject to the rent review provisions contained within the lease.
X1 Media City Tower 1 is an established modern residential development within the wider MediaCity and Salford Quays district.

Residents benefit from a range of facilities including a residents’ gym, private cinema room, communal dining and social areas, concierge service, overnight security, secure resident access and bike storage. Underground parking is also provided within the wider development.

Location

The property is ideally positioned for MediaCity and Salford Quays, one of Greater Manchester’s established residential, commercial and leisure destinations.
MediaCity is home to major organisations and employers, including BBC and itv, alongside numerous businesses operating across the media, technology and creative sectors.Residents have access to a wide selection of restaurants, cafés, bars, shops and leisure facilities, with everyday shopping also conveniently available nearby.
Harbour City Metrolink stop is within convenient walking distance, providing straightforward connections towards Manchester city centre and throughout the wider Metrolink network.