# 2 bedroom flat for sale (M5 3NQ)

## Property Details

| Key | Value |
|-----|-------|
| Address | The Exchange, Salford Quays, Manchester, M5 3NQ |
| Price | £140,000 |
| Bedrooms | 2 |
| Bathrooms | 2 |
| Council tax | C |
| Last sold | £102,500 |

## 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.

## Property Photos

- ![Photo](/listings/photos/90460854/1026919)
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- ![Photo](/listings/photos/90460854/1252727)
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## Floorplans

- ![Floorplan 1](/listings/photos/90460854/1026928) - Floorplan 1

## EPC Graphs

- ![EPC 1](/listings/photos/90460854/1026929) - EPC 1

## Sold Comparables

*Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.*

| 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)

## Price vs local average

*Outcode + property type (HousePrices, last 2 years).*

- **Local average:** £199,581 (72 Flat, M5, 2024–2026)
- **Deviation:** -29.9%

## Rental Range

*ONS Price Index of Private Rents (Salford). Low / Realistic / Optimistic = conservative / average / best case.*

- **Low:** £1,046/mo
- **Realistic:** £1,162/mo
- **Optimistic:** £1,278/mo

## LHA (Local Housing Allowance)

*VOA 30th percentile rent floor for Richmond & Hambleton (Apr 2025 – Mar 2026).*

- **LHA floor (this property size):** £549/mo

## 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, The Exchange, M5 | £1,300/mo | 2 | 0.01 miles | OpenRent |
| 2 Bed Flat, Trafford Road, M5 | £1,450/mo | 2 | 0.04 miles | OpenRent |
| 2 Bed Flat, Trafford Road, M5 | £2,889/mo | 2 | 0.04 miles | OpenRent |
| 2 Bed Flat, Trafford Road, M5 | £3,015/mo | 2 | 0.04 miles | OpenRent |
| 2 Bed Flat, Gilbert House, M5 | £1,295/mo | 2 | 0.06 miles | OpenRent |
| 2 Bed Flat, Elmira Way, M5 | £1,250/mo | 2 | 0.14 miles | OpenRent |
| 2 Bed Flat, Labrador Quay, M50 | £1,250/mo | 2 | 0.29 miles | OpenRent |
| 2 Bed Flat, Winnipeg Quay, M50 | £1,340/mo | 2 | 0.35 miles | OpenRent |
| 2 Bed Flat, The Quays, M50 | £1,550/mo | 2 | 0.38 miles | OpenRent |
| 2 Bed Flat, Pomona Strand, M16 | £1,395/mo | 2 | 0.39 miles | OpenRent |
| 2 Bed Flat, Wharf End, M17 | £1,895/mo | 2 | 0.39 miles | OpenRent |
| 2 Bed Flat, Salford Quays, M50 | £1,300/mo | 2 | 0.39 miles | OpenRent |
| 2 Bed Flat, Wharf End, M17 | £1,250/mo | 2 | 0.4 miles | OpenRent |
| 2 Bed Flat, Michigan Avenue, M50 | £2,500/mo | 2 | 0.47 miles | OpenRent |
| 2 Bed Flat, Michigan Avenue, M50 | £1,300/mo | 2 | 0.48 miles | OpenRent |
| 2 Bed Flat, The Quays, M50 | £1,450/mo | 2 | 0.5 miles | OpenRent |
| 2 Bed Flat, Metropolitan House, M16 | £1,050/mo | 2 | 0.51 miles | OpenRent |

**Average rent: £1,616/mo (17 listings)**

## 1% Rule

- **Rent ratio:** 0.96% (okay)
- **Max investor price (0.8%):** £167,500
- **Target investor price (1%):** £134,000

*Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.*

## Rent-driven metrics

*Based on OpenRent comparables (median £1,340/mo).*

- **Gross yield:** 11.5%
- **Cost-to-rent:** 8.7×
- **Monthly cashflow:** £630/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 18.6%

*Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − 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).*

## Capital growth trend

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

- **5y growth:** -14.3%
- **10y growth:** 29.7%

## House Price Index (HM Land Registry)

*Official index for Salford; Flats and maisonettes series; as of April 2026.*

- **1y growth (index):** -5%
- **5y growth (index):** 17.3%
- **10y growth (index):** 75%

## Flood risk

- **Zone:** 1
- **Risk:** Low
- **Source:** Job (default Low)

[Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)