For sale Flat

The Exchange

Salford Quays, Manchester, M5 3NQ

2 beds 2 baths Listed 3 Jul 2026 (-18d)

£140,000

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Property details

Tenure

LEASEHOLD

Council tax band

C

Last sold

£102,500

Local average

£199,581 (-29.9%)

Street crime

0 incidents within 1 mile (May 2026)

Key features

  • Two bedroom two bathroom flat
  • Private balcony with city views
  • Chain free
  • 3-minute walking distance to Salford Quays Metrolink Station
  • Residents Gym & on site security (7am-7pm)
  • Long lease

Description

GHE is delighted to present this well-proportioned two-bedroom apartment within The Exchange, offering modern living in one of Salford Quays' most sought-after locations. Ideally positioned just moments from Media City and excellent transport links, this apartment is perfectly suited to both owner-occupiers and investors alike.

The apartment offers approximately 667 sq ft (62 sq m) of living space and has been thoughtfully designed to maximise both space and natural light. At the heart of the home is a generous open-plan living, dining and kitchen area, providing a bright and welcoming space for relaxing or entertaining. The contemporary kitchen comes fully fitted with integrated appliances, while the living area opens onto a private balcony, creating an ideal spot to enjoy some outdoor space with beautiful city views.

There are two well-proportioned double bedrooms, with the principal bedroom benefiting from its own en-suite shower room. The second double bedroom is ideal for guests, a home office or sharers, and is served by a modern family bathroom located off the central hallway.

Residents of The Exchange enjoy access to excellent on-site facilities, including a fully equipped residents' gym and on-site security operating daily from 7am to 7pm, providing added convenience and peace of mind.

The location is one of the property's standout features. Salford Quays Metrolink station is approximately a three-minute walk away, offering direct connections into Manchester city centre and beyond. The vibrant amenities of MediaCityUK are also within easy walking distance, with an excellent selection of restaurants, cafés, bars, shops and waterfront walks all close by.

The apartment is an excellent opportunity for first-time buyers, professionals and investors looking to secure a property in a consistently popular rental location. Offered with vacant possession.

Service charge: approximately £3,020 per annum
Ground rent: £333 per annum
Length of lease: approximately 127 years remaining




All data and information set forth on this website regarding real property, for sale, purchase, rental and/or financing, are from sources regarded as reliable. No warranties are made as to the accuracy of any descriptions and/or other details and such information is subject to errors, omissions, changes of price, tenancies, commissions, prior sales, leases or financing, or withdrawal without notice. Square footages are approximate and may be verified by consulting a professional architect or engineer.

Listed by

London

Global House Estates

Reference: 90460854

EPC Rating & Upgrade Cost

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Flood risk

Zone: 1

Risk: Low

Job (default Low)

Floorplans

Floorplan 1

Floorplan 1

EPC Graphs

EPC 1

EPC 1

Price history

Event Date Price % change
Listed for sale £140,000

Source: HM Land Registry Price Paid Data. Crown copyright.

Sold Comparables

Same street and nearby sales within 0.25 miles (last 5 years). Data from Land Registry Price Paid.

Address Price Date Type
THE EXCHANGE, 8 APARTMENT 215 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3NQ £150,000 19/12/2025 Flat
ENDEAVOUR HOUSE, 1B APARTMENT 263 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3LN £137,500 19/11/2025 Flat
12 TROY WALK, SALFORD, GREATER MANCHESTER, M5 3DF £128,000 07/08/2025 Flat
ADAMSON HOUSE, 4 APARTMENT 38 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DL £180,102 04/12/2023 Flat
DOCK OFFICE APARTMENT 61 FURNESS QUAY, SALFORD, GREATER MANCHESTER, M50 3AA £360,000 30/10/2023 Flat
EGERTON HOUSE, 3 APARTMENT 36 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DH £175,000 20/10/2023 Flat
ADAMSON HOUSE, 4 APARTMENT 4 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DL £170,000 06/10/2023 Flat
WALKER HOUSE, 6 APARTMENT 43 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DU £163,000 28/07/2023 Flat
GILBERT HOUSE, 2 APARTMENT 11 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DE £180,000 03/05/2023 Flat
15 RADCLYFFE MEWS, SALFORD, GREATER MANCHESTER, M5 3GD £178,000 03/03/2023 Flat
WALKER HOUSE, 6 APARTMENT 32 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DU £170,000 16/02/2023 Flat
WALKER HOUSE, 6 APARTMENT 5 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DU £171,250 09/12/2022 Flat
GILBERT HOUSE, 2 APARTMENT 43 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DE £208,000 25/11/2022 Flat
PLATT HOUSE, 5 APARTMENT 30 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DR £188,000 18/11/2022 Flat
GILBERT HOUSE, 2 APARTMENT 34 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DE £203,000 11/11/2022 Flat
WALKER HOUSE, 6 APARTMENT 2 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DU £195,000 14/10/2022 Flat
ADAMSON HOUSE, 4 APARTMENT 44 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DL £182,000 14/10/2022 Flat
EGERTON HOUSE, 3 APARTMENT 6 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DH £160,000 30/09/2022 Flat
15 APARTMENT 916 TRAFFORD ROAD, SALFORD, GREATER MANCHESTER, M5 3NW £230,000 29/09/2022 Flat
PLATT HOUSE, 5 APARTMENT 19 ELMIRA WAY, SALFORD, GREATER MANCHESTER, M5 3DR £206,000 26/07/2022 Flat

Area average: £186,743 (20 sales)

Capital growth trend

Land Registry outcode average: last 12 months vs 5y and 10y ago (from sold prices).

5y growth -15.2%
10y growth 31.5%

House Price Index (HM Land Registry — official index, not sold-price averages): Salford. Series: Flats and maisonettes. As of April 2026.

1y (index) -5%
5y (index) 17.3%
10y (index) 75%

Rental Range

Estimated market rent for Salford. Low = conservative, Realistic = average, Optimistic = best case.

Low £1,046/mo
Realistic £1,162/mo
Optimistic £1,278/mo

Based on Local Authority from postcode lookup → Salford.

LHA (30th percentile) floor for Richmond & Hambleton: £549/mo (Apr 2025 – Mar 2026)

Location

Address

8 Elmira Way

Nearby

Nearest stations, universities and amenities (distance from property).

Type Name Distance
Bus stop Trafford Road/Elmira Way 0.0 miles
Bus stop Trafford Road/Merchants Quay 0.0 miles
Shop Tesco Express 0.1 miles
Shop East West Express 0.1 miles
University University of Salford 0.6 miles
Train station Salford Crescent 1.1 miles
Hospital Salford Gastric Bypass Surgery 1.2 miles
Train station Deansgate 1.3 miles
University Manchester Metropolitan University 1.8 miles
Hospital The Ailsa Craig Medical Practise 3.2 miles

Street-level crime

Category Count
Total incidents 0

Within 1 mile during May 2026. Source: data.police.uk (England & Wales).

Schools nearby

Nearest open schools with Ofsted ratings (England). Closed schools are not shown. Data from Get Information about Schools and Ofsted.

Name Type Distance Ofsted
Thompsons Academy trading as Navigators Other 0.3 miles (No rating)
Oasis Academy MediaCityUK Secondary 0.3 miles Good — 1 Jul 2016
St Joseph's RC Primary School Primary 0.4 miles Good — 24 May 2022
Primrose Hill Primary School and Children's Centre Primary 0.5 miles Good — 30 Jun 2022
AldridgeUTC@MediaCityUK Secondary 0.7 miles Good — 27 Apr 2023

Rental Comparables

Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.

Title Rent Beds Distance As seen on
2 Bed Flat, Furness Quay, M50 £1,300/mo 2 0.2 miles OpenRent
2 Bed Flat, Furness Quay, M50 £1,200/mo 2 0.2 miles OpenRent
2 Bed Flat, Labrador Quay, M50 £2,500/mo 2 0.29 miles OpenRent
2 Bed Flat, Ordsall Lane, M5 £1,100/mo 2 0.35 miles OpenRent

Average rent: £1,525/mo (4 listings)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 0.89%
Max investor price (0.8%) £156,250
Target investor price (1%) £125,000
Gross yield 10.7%
Cost-to-rent ratio 9.3×
Monthly cashflow £549/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term
Cash-on-cash ROI 16.2%
  • Rent ratio — Monthly rent ÷ purchase price (1% rule). 1%+ = strong, 0.8–1% = okay, <0.8% = weak for cashflow.
  • Max investor price — Rent ÷ 0.8%; the price at which rent would be 0.8% of price (Stoke-style target).
  • Target investor price — Rent ÷ 1%; the price at which rent would be 1% of price (strong cashflow band).
  • Gross yield — Annual rent as % of purchase price (no costs).
  • Cost-to-rent — Price ÷ annual rent (from OpenRent comparables). Under 14× = strong, 14–16× = acceptable, 17×+ = compressed.
  • Cashflow — Rent minus mortgage, 10% maintenance, £25/mo compliance. Assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term.
  • ROI — Annual profit ÷ cash in (deposit + 4% purchase costs).