# 2 bedroom apartment for sale (M4 6BU)

## Property Details

| Key | Value |
|-----|-------|
| Address | Chips, 2 Lampwick Lane, New Islington, M4 6BU |
| Price | £180,000 |
| Bedrooms | 2 |
| Bathrooms | 1 |
| Council tax | C |
| Last sold | £175,000 |

## Description

Goodwin Fish is delighted to offer for sale a beautifully presented apartment in the popular area of New Islington.

Situated in New Islington, voted one of the best places to live by The Sunday Times, the property is within walking distance to New Islington Marina and Cutting Room Square, artisan bakeries such as Pollen and Companio, craft beer at Cask, and Michelin-starred Mana. New Islington School, New Islington Medical Practice, a PureGym and two supermarkets are in walking distance, with excellent transport links including New Islington Metrolink and Piccadilly Train station

Located on the third floor and offering an estimated 732 sqft, the property features polished concrete ceilings which are an industrial characteristic associated with award winning developers Urban Splash. The property briefly comprises: entrance/hallway with storage cupboard; open plan lounge/diner with concertina doors into double bedroom/work from home space; kitchen with integrated appliances; primary double bedroom; bathroom.

The property is offered with vacant possession and must be viewed to be fully appreciated.

An EWS1 form is expected following fire safety remediation works which are due to complete shortly.

Tenure: Leasehold

Annual service charge: £2,598.07

Annual ground rent: £330.00

Length of lease: 250 years from 2003

Est. rental income: £1.300 pcm

Management company: Residential Management Group

Important Information:

Anti-Money Laundering (AML) Checks - As part of making an offer, we`re required by law to complete Anti-Money Laundering (AML) checks to confirm the identity of all purchasers. To cover the cost of this process, a non-refundable fee of £60 inc VAT per buyer is payable when your offer is accepted. This is a standard requirement for all buyers and ensure` s your offer can be progressed as quickly and smoothly as possible.

**what3words /// ** hurry.bossy.formal

**Notice**

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Anti-Money Laundering (AML) Checks - As part of making an offer, we`re required by law to complete Anti-Money Laundering (AML) checks to confirm the identity of all purchasers. To cover the cost of this process, a non-refundable fee of £60 inc VAT per buyer is payable when your offer is accepted. This is a standard requirement for all buyers and ensures your offer can be progressed as quickly and smoothly as possible.

## Property Photos

- ![Photo](/listings/photos/173735045/106388)
- ![Photo](/listings/photos/173735045/106389)
- ![Photo](/listings/photos/173735045/106390)
- ![Photo](/listings/photos/173735045/106391)
- ![Photo](/listings/photos/173735045/106392)
- ![Photo](/listings/photos/173735045/106393)
- ![Photo](/listings/photos/173735045/106394)
- ![Photo](/listings/photos/173735045/106395)
- ![Photo](/listings/photos/173735045/106396)
- ![Photo](/listings/photos/173735045/106397)

## Floorplans

- ![Floorplan 1](/listings/photos/173735045/106398) - Floorplan 1

## EPC Graphs

- ![EPC 1](/listings/photos/173735045/106399) - EPC 1

## Sales History

*Recorded sales for this property. Data from Land Registry Price Paid.*

| Address | Price | Date | Type |
|---------|-------|------|------|
|  | £175,000 | 01/01/2010 | — |

## Sold Comparables

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| MILLINER'S WHARF, 2 APARTMENT 78 MUNDAY STREET, MANCHESTER, GREATER MANCHESTER, M4 7BB | £161,000 | 03/12/2025 | Flat |
| MILLINER'S WHARF, 2 APARTMENT 179 MUNDAY STREET, MANCHESTER, GREATER MANCHESTER, M4 7BG | £151,000 | 28/11/2025 | Flat |
| 1 FLAT 50 VESTA STREET, MANCHESTER, GREATER MANCHESTER, M4 6LT | £365,000 | 21/11/2025 | Flat |
| BLOCK B, 12 APARTMENT 16 POLLARD STREET, MANCHESTER, GREATER MANCHESTER, M4 7AJ | £205,000 | 29/10/2025 | Flat |
| 1 FLAT 29 VESTA STREET, MANCHESTER, GREATER MANCHESTER, M4 6LT | £285,000 | 26/09/2025 | Flat |
| 7 FLAT 611 MUNDAY STREET, MANCHESTER, GREATER MANCHESTER, M4 7AZ | £400,000 | 18/07/2025 | Flat |
| 1 FLAT 113 VESTA STREET, MANCHESTER, GREATER MANCHESTER, M4 6LU | £340,000 | 20/12/2023 | Flat |
| 7 FLAT 112 MUNDAY STREET, MANCHESTER, GREATER MANCHESTER, M4 7AZ | £290,000 | 08/12/2023 | Flat |
| 1 FLAT 137 VESTA STREET, MANCHESTER, GREATER MANCHESTER, M4 6LU | £225,000 | 12/09/2023 | Flat |
| 1 FLAT 72 VESTA STREET, MANCHESTER, GREATER MANCHESTER, M4 6LT | £350,000 | 01/09/2023 | Flat |
| 1 FLAT 29 VESTA STREET, MANCHESTER, GREATER MANCHESTER, M4 6LT | £297,500 | 31/07/2023 | Flat |
| 1 FLAT 11 VESTA STREET, MANCHESTER, GREATER MANCHESTER, M4 6LT | £300,000 | 27/07/2023 | Flat |
| 16 SPINDLE MEWS, MANCHESTER, GREATER MANCHESTER, M4 6DB | £500,000 | 19/07/2023 | Flat |
| MILLINER'S WHARF, 2 APARTMENT 35 MUNDAY STREET, MANCHESTER, GREATER MANCHESTER, M4 7BB | £245,000 | 09/06/2023 | Flat |
| 1 FLAT 136 VESTA STREET, MANCHESTER, GREATER MANCHESTER, M4 6LU | £14,000 | 09/01/2023 | Flat |
| LOOM BUILDING, 1 FLAT 101 HARRISON STREET, MANCHESTER, GREATER MANCHESTER, M4 7BJ | £210,000 | 21/12/2022 | Flat |
| BLOCK A, 12 APARTMENT 48 POLLARD STREET, MANCHESTER, GREATER MANCHESTER, M4 7AJ | £224,950 | 30/11/2022 | Flat |
| MILLINER'S WHARF, 2 APARTMENT 103 MUNDAY STREET, MANCHESTER, GREATER MANCHESTER, M4 7BD | £260,000 | 30/11/2022 | Flat |
| 12 FLAT 14 OLD MILL STREET, MANCHESTER, GREATER MANCHESTER, M4 6DZ | £275,000 | 28/11/2022 | Flat |
| BLOCK A, 12 APARTMENT 6 POLLARD STREET, MANCHESTER, GREATER MANCHESTER, M4 7AJ | £212,000 | 28/10/2022 | Flat |

**Area average:** £265,523 (20 sales)

## Price vs local average

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

- **Local average:** £268,000 (70 Flat, M4, 2024–2026)
- **Deviation:** -32.8%

## Rental Range

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

- **Low:** £1,214/mo
- **Realistic:** £1,349/mo
- **Optimistic:** £1,484/mo

## LHA (Local Housing Allowance)

*VOA 30th percentile rent floor for East Lancs (Apr 2025 – Mar 2026).*

- **LHA floor (this property size):** £474/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, Malta Street, M4 | £1,350/mo | 2 | 0.09 miles | OpenRent |
| 2 Bed Flat, Loom Building, M4 | £1,250/mo | 2 | 0.11 miles | OpenRent |
| 2 Bed Terraced House, Loom Building, M4 | £4,080/mo | 2 | 0.11 miles | OpenRent |
| 2 Bed Penthouse, Chapeltown Street, M1 | £2,300/mo | 2 | 0.25 miles | OpenRent |
| 2 Bed Flat, Chapeltown Street, M1 | £1,295/mo | 2 | 0.37 miles | OpenRent |

**Average rent: £2,055/mo (5 listings)**

## 1% Rule

- **Rent ratio:** 0.75% (weak for cashflow)
- **Max investor price (0.8%):** £168,750
- **Target investor price (1%):** £135,000

*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 £1,350/mo).*

- **Gross yield:** 9%
- **Cost-to-rent:** 11.1×
- **Monthly cashflow:** £481/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 11.1%

*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:** -7.1%
- **10y growth:** 69.7%

## House Price Index (HM Land Registry)

*Official index for Manchester; Flats and maisonettes series; as of March 2026.*

- **1y growth (index):** -1.4%
- **5y growth (index):** 9.1%
- **10y growth (index):** 58.9%

## 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)