Frederick Road, Salford

Greenco Property Group are delighted to offer for sale this studio apartment within the popular X1 Cheltenham Place development on Frederick Road, Salford. Ideally positioned close to the University of Salford, this property presents an attractive investment opportunity, particularly for buyers looking to invest in the student accommodation market.

The apartment comprises an open-plan kitchen and living/sleeping area, together with a private bathroom. The development benefits from lift access and a range of on-site facilities designed to cater for students and young professionals.

Residents can enjoy access to a concierge/reception service, an on-site gym, communal laundry facilities and secure bicycle storage. The building also benefits from secure access and overnight security.

Investment Information

The apartment is being sold with a tenant in situ, currently generating rental income of £900 per calendar month (£10,800 per annum).

At the asking price of £105,000, this represents an approximate gross rental yield of 10.3%, before service charge and other ownership costs.

Location

One of the property's main attractions is its proximity to the University of Salford, with the Frederick Road campus just a short walk away. This makes the development particularly appealing to students and university-related tenants.

Salford Crescent railway station is also within walking distance, providing convenient rail connections to Manchester city centre and other destinations. Manchester city centre is easily accessible by public transport and road, while MediaCityUK and Salford Quays are also within convenient reach.

The surrounding area offers a range of local shops, cafés, restaurants and everyday amenities. Larger shopping facilities, including Salford Shopping Centre and Tesco Extra, are also accessible nearby.

For leisure and recreation, residents can enjoy nearby Peel Park, Salford Museum and Art Gallery, as well as the wider Salford Quays area, which offers restaurants, cultural attractions and waterfront spaces.

The property also benefits from convenient access to the M602 motorway, connecting to the M60 and the wider Greater Manchester motorway network.

Key Features

Studio apartment in X1 Cheltenham Place

Prime location close to the University of Salford

Currently tenanted at £900 PCM

Approximate gross rental yield of 10.3%

999-year lease from 2024

EWS1 Approved

Concierge/reception service

On-site gym and communal laundry facilities

Lift access

Secure bicycle storage

No allocated parking space

No onward chain

Additional Information

Asking Price: £105,000

Tenure: Leasehold – 999 years from 2024

Ground Rent: £0

Service Charge: £2,120 per annum

Current Rental Income: £900 PCM

Annual Rental Income: £10,800

Gross Yield: Approximately 10.3%

EWS1: Approved

Sale Status: Sold with tenant in situ

Parking: No allocated parking space

Early viewing is strongly recommended.