For sale Flat

APARTMENT RM 403

ROYAL MILLS, 2, COTTON STREET, MANCHESTER, GREATER MANCHESTER M4 5BZ

1 beds 1 baths Listed 13 Jul 2026 (-99d)

£220,000

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# 1 bedroom apartment for sale (M4 5BZ)

## Property Details

| Key | Value |
|-----|-------|
| Address | APARTMENT RM 403, ROYAL MILLS, 2, COTTON STREET, MANCHESTER, GREATER MANCHESTER M4 5BZ |
| Price | £220,000 |
| Bedrooms | 1 |
| Bathrooms | 1 |
| Council tax | B |
| Last sold | £185,000 Jun 2024 |

## Description

Royal Mills has a 24hr concierge and has an impressive glass atrium which hosts an on-site Ancoats Coffee shop. Ancoats has become one of the most desirable places to live in Manchester. Hosting a number of Manchester's best reviewed restaurants along with a recently Michelin starred restaurant too. It's a beautiful area, seamlessly blending historic mills, cobbled streets and canals with tasteful new build developments. Ancoats is within easy walking distance to Piccadilly and Victoria Train station, Shudehill and Piccadilly Gardens bus interchange and numerous Metrolink stops meaning public transport is an option everywhere.

GENERAL:

Rental Yield: 7.09% (Based on expected rental price of £1300pcm)

Service Charge: £2040 per annum (includes buildings insurance)

Ground Rent: £150 per annum

Ground Rent Review Period: Reviewed every 10 years inline with RPI

Lease: 250 years from 4 January 2013

Square Footage: 406 sq.ft / 37.7 sq.m approx

Council Tax Band: B (Manchester City Council)

Management Company: Zenith

## Property Photos

- ![IMG_9080](/listings/photos/90825153/2533263) - IMG_9080
- ![IMG_9048](/listings/photos/90825153/2533264) - IMG_9048
- ![IMG_9135](/listings/photos/90825153/2533265) - IMG_9135
- ![IMG_9144](/listings/photos/90825153/2533266) - IMG_9144
- ![IMG_9103](/listings/photos/90825153/2533267) - IMG_9103
- ![IMG_9158](/listings/photos/90825153/2533268) - IMG_9158
- ![IMG_9085](/listings/photos/90825153/2533269) - IMG_9085
- ![IMG_9117](/listings/photos/90825153/2533270) - IMG_9117
- ![IMG_9148](/listings/photos/90825153/2533271) - IMG_9148
- ![IMG_9052](/listings/photos/90825153/2533272) - IMG_9052
- ![Lrg_IMG_5666](/listings/photos/90825153/2533273) - Lrg_IMG_5666
- ![IMG_9095](/listings/photos/90825153/2533274) - IMG_9095
- ![Lrg_IMG_5654](/listings/photos/90825153/2533275) - Lrg_IMG_5654
- ![Lrg_IMG_5692](/listings/photos/90825153/2533276) - Lrg_IMG_5692

## Floorplans

- ![Floorplan](/listings/photos/90825153/2533277) - Floorplan

## EPC Graphs

- ![EPC 1](/listings/photos/90825153/2533278) - EPC 1

## Sales History

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| ROYAL MILLS, 2 APARTMENT RM 403 COTTON STREET, MANCHESTER, GREATER MANCHESTER, M4 5BZ | £185,000 | 03/06/2024 | Flat |

## Sold Comparables

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| CONNECT HOUSE, 1 APARTMENT 21 HENRY STREET, MANCHESTER, GREATER MANCHESTER, M4 5DA | £145,000 | 20/01/2026 | Flat |
| CONNECT HOUSE, 1 APARTMENT 37 HENRY STREET, MANCHESTER, GREATER MANCHESTER, M4 5DA | £193,000 | 11/12/2025 | Flat |
| DELUNA HOUSE, 2 FLAT 601 CORNELL STREET, MANCHESTER, GREATER MANCHESTER, M4 5EF | £26,500 | 28/11/2025 | Flat |
| ALUMNI COURT, 1 FLAT 6 COTTON STREET, MANCHESTER, GREATER MANCHESTER, M4 5BR | £570,000 | 14/11/2025 | Flat |
| DELUNA HOUSE, 2 FLAT 602 CORNELL STREET, MANCHESTER, GREATER MANCHESTER, M4 5EF | £335,000 | 31/10/2025 | Flat |
| DELUNA HOUSE, 2 FLAT 505 CORNELL STREET, MANCHESTER, GREATER MANCHESTER, M4 5EF | £295,000 | 08/10/2025 | Flat |
| 17 ANITA STREET, MANCHESTER, GREATER MANCHESTER, M4 5DU | £290,000 | 23/07/2025 | Flat |
| DELUNA HOUSE, 2 FLAT 304 CORNELL STREET, MANCHESTER, GREATER MANCHESTER, M4 5EF | £305,000 | 21/07/2025 | Flat |
| NUOVO APARTMENTS, 59 316 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH | £267,000 | 13/06/2025 | Flat |
| 55 APARTMENT F B 413 HENRY STREET, MANCHESTER, GREATER MANCHESTER, M4 5DH | £380,000 | 28/10/2024 | Flat |
| NUOVO APARTMENTS, 59 1001 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AN | £270,000 | 27/11/2023 | Flat |
| NUOVO APARTMENTS, 59 411 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH | £210,000 | 17/11/2023 | Flat |
| NUOVO APARTMENTS, 59 410 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH | £237,000 | 17/11/2023 | Flat |
| COTTON HOUSE, 21 9 BLOSSOM STREET, MANCHESTER, GREATER MANCHESTER, M4 5EP | £450,000 | 07/11/2023 | Flat |
| NUOVO APARTMENTS, 59 604 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AN | £185,000 | 27/10/2023 | Flat |
| NUOVO APARTMENTS, 59 412 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH | £260,000 | 27/09/2023 | Flat |
| 55 APARTMENT F B 412 HENRY STREET, MANCHESTER, GREATER MANCHESTER, M4 5DH | £345,000 | 15/09/2023 | Flat |
| NUOVO APARTMENTS, 59 304 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH | £191,000 | 08/09/2023 | Flat |
| NUOVO APARTMENTS, 59 309 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH | £200,000 | 01/09/2023 | Flat |
| ONE CUTTING ROOM SQUARE, 16 FLAT 25 HOOD STREET, MANCHESTER, GREATER MANCHESTER, M4 6WX | £575,000 | 14/07/2023 | Flat |

**Area average:** £286,475 (20 sales)

## Price vs local average

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

- **Local average:** £262,250 (86 Flat, M4, 2024–2026)
- **Deviation:** -16.1%

## Rental Range

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

- **Low:** £1,236/mo
- **Realistic:** £1,373/mo
- **Optimistic:** £1,510/mo

## LHA (Local Housing Allowance)

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

- **LHA floor (this property size):** £424/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 |
|------|------|------|------|------|
| 1 Bed Flat, Royal Mills, M4 | £1,500/mo | 1 | 0.14 miles | OpenRent |
| 1 Bed Flat, Tib Street, M4 | £2,800/mo | 1 | 0.16 miles | OpenRent |
| 1 Bed Flat, Lomax Building, M1 | £3,000/mo | 1 | 0.29 miles | OpenRent |
| 1 Bed Flat, Lomax Building, M1 | £3,200/mo | 1 | 0.29 miles | OpenRent |
| 1 Bed Flat, Oxygen Tower, M1 | £1,300/mo | 1 | 0.37 miles | OpenRent |

**Average rent: £2,360/mo (5 listings)**

## 1% Rule

- **Rent ratio:** 1.27% (strong)
- **Max investor price (0.8%):** £350,000
- **Target investor price (1%):** £280,000

*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 £2,800/mo).*

- **Gross yield:** 15.3%
- **Cost-to-rent:** 6.5×
- **Monthly cashflow:** £1,629/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 30.6%

*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:** -9.9%
- **10y growth:** 52.4%

## House Price Index (HM Land Registry)

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

- **1y growth (index):** -0.9%
- **5y growth (index):** 12.1%
- **10y growth (index):** 56.7%

## 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)

IMG_9080 IMG_9048 IMG_9135 IMG_9144 IMG_9103 IMG_9158 IMG_9085 IMG_9117 IMG_9148 IMG_9052 Lrg_IMG_5666 IMG_9095 Lrg_IMG_5654 Lrg_IMG_5692

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Property details

Tenure

LEASEHOLD (236 years remaining on lease)

Council tax band

Last sold

£185,000 Jun 2024

Local average

£262,250 (-16.1%)

Deprivation

Decile 6 (20,089 of 33,755)

Street crime

2 incidents within 1 mile (Aug 2026)

Key features

Beautifully Presented One Bedroom Apartment
4th Floor Position
Grade II Listed Development
Original Features Retained Throughout
In the Heart of Ancoats
5 Minutes Walk to New Islington Marina
5 Minutes to the Northern Quarter
EWS1 in Place with B1 Rating

Additional details

Garden: Yes

Description

Julie Twist Properties are delighted to welcome to the market this 4th floor apartment located in the sought-after Royal Mills development in Ancoats. The apartment offers a fully fitted kitchen with integrated appliances, which is open-plan to the living and dining area. Original features have been retained throughout, including high ceilings, exposed brickwork and large sash windows. There is also a generously sized bedroom which has fitted wardrobes, a modern three-piece bathroom suite and an entrance hallway which has access to a storage cupboard.
Royal Mills has a 24hr concierge and has an impressive glass atrium which hosts an on-site Ancoats Coffee shop. Ancoats has become one of the most desirable places to live in Manchester. Hosting a number of Manchester's best reviewed restaurants along with a recently Michelin starred restaurant too. It's a beautiful area, seamlessly blending historic mills, cobbled streets and canals with tasteful new build developments. Ancoats is within easy walking distance to Piccadilly and Victoria Train station, Shudehill and Piccadilly Gardens bus interchange and numerous Metrolink stops meaning public transport is an option everywhere.
GENERAL:
Rental Yield: 7.09% (Based on expected rental price of £1300pcm)
Service Charge: £2040 per annum (includes buildings insurance)
Ground Rent: £150 per annum
Ground Rent Review Period: Reviewed every 10 years inline with RPI
Lease: 250 years from 4 January 2013
Square Footage: 406 sq.ft / 37.7 sq.m approx
Council Tax Band: B (Manchester City Council)
Management Company: Zenith

Listed by

Manchester

Julie Twist Properties

Reference: 90825153

Flood risk

Zone: 1

Risk: Low

Job (default Low)

Registered land (INSPIRE)

This location falls inside an HM Land Registry INSPIRE registered freehold polygon.

Building plot (shared): ~2,363 m² (0.58 acres) (area is for the building, not the flat)

Source: HM Land Registry INSPIRE Index Polygons.

Floorplans

Floorplan

EPC Graphs

EPC 1

Price history

Event	Date	Price	% change
Listed for sale	—	£220,000	+18.9%
Sold	03/06/2024 (2 years ago)	£185,000	—

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
CONNECT HOUSE, 1 APARTMENT 21 HENRY STREET, MANCHESTER, GREATER MANCHESTER, M4 5DA	£145,000	20/01/2026	Flat
CONNECT HOUSE, 1 APARTMENT 37 HENRY STREET, MANCHESTER, GREATER MANCHESTER, M4 5DA	£193,000	11/12/2025	Flat
DELUNA HOUSE, 2 FLAT 601 CORNELL STREET, MANCHESTER, GREATER MANCHESTER, M4 5EF	£26,500	28/11/2025	Flat
ALUMNI COURT, 1 FLAT 6 COTTON STREET, MANCHESTER, GREATER MANCHESTER, M4 5BR	£570,000	14/11/2025	Flat
DELUNA HOUSE, 2 FLAT 602 CORNELL STREET, MANCHESTER, GREATER MANCHESTER, M4 5EF	£335,000	31/10/2025	Flat
DELUNA HOUSE, 2 FLAT 505 CORNELL STREET, MANCHESTER, GREATER MANCHESTER, M4 5EF	£295,000	08/10/2025	Flat
17 ANITA STREET, MANCHESTER, GREATER MANCHESTER, M4 5DU	£290,000	23/07/2025	Flat
DELUNA HOUSE, 2 FLAT 304 CORNELL STREET, MANCHESTER, GREATER MANCHESTER, M4 5EF	£305,000	21/07/2025	Flat
NUOVO APARTMENTS, 59 316 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH	£267,000	13/06/2025	Flat
55 APARTMENT F B 413 HENRY STREET, MANCHESTER, GREATER MANCHESTER, M4 5DH	£380,000	28/10/2024	Flat
NUOVO APARTMENTS, 59 1001 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AN	£270,000	27/11/2023	Flat
NUOVO APARTMENTS, 59 411 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH	£210,000	17/11/2023	Flat
NUOVO APARTMENTS, 59 410 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH	£237,000	17/11/2023	Flat
COTTON HOUSE, 21 9 BLOSSOM STREET, MANCHESTER, GREATER MANCHESTER, M4 5EP	£450,000	07/11/2023	Flat
NUOVO APARTMENTS, 59 604 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AN	£185,000	27/10/2023	Flat
NUOVO APARTMENTS, 59 412 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH	£260,000	27/09/2023	Flat
55 APARTMENT F B 412 HENRY STREET, MANCHESTER, GREATER MANCHESTER, M4 5DH	£345,000	15/09/2023	Flat
NUOVO APARTMENTS, 59 304 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH	£191,000	08/09/2023	Flat
NUOVO APARTMENTS, 59 309 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH	£200,000	01/09/2023	Flat
ONE CUTTING ROOM SQUARE, 16 FLAT 25 HOOD STREET, MANCHESTER, GREATER MANCHESTER, M4 6WX	£575,000	14/07/2023	Flat

Area average: £286,475 (20 sales)

Capital growth trend

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

5y growth -9.9%

10y growth 52.4%

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

1y (index) -0.9%

5y (index) 12.1%

10y (index) 56.7%

Rental Range

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

Low £1,236/mo

Realistic £1,373/mo

Optimistic £1,510/mo

Based on Local Authority from postcode lookup → Manchester.

LHA (30th percentile) floor for East Lancs: £424/mo (Apr 2025 – Mar 2026)

Location

Map view View on Google Maps View on OpenStreetMap Street View M4 5BZ

Address

1 Cotton Street

Nearby

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

Type	Name	Distance
Shop	Chelsea Childrens Wear Ltd	0.0 miles
Shop	SAM Knitwear Ltd	0.0 miles
Bus stop	Manchester City Centre, Oldham Road / New Cross (Stop EF)	0.1 miles
Bus stop	Ancoats, Great Ancoats Street / opposite Jersey Street	0.1 miles
University	University of Law	0.5 miles
Train station	Manchester Piccadilly	0.5 miles
Train station	Manchester Victoria	0.6 miles
University	UCEN Manchester (Shena Simon Campus)	0.6 miles
Hospital	The Ailsa Craig Medical Practise	2.3 miles
Hospital	Shiv Lodge Medical Centre	2.3 miles

Street-level crime

Category	Count
Criminal damage and arson	1
Violence and sexual offences	1
Total incidents	2

Within 1 mile during Aug 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
Co-Op Academy New Islington	Primary	0.2 miles	Outstanding — 10 Jul 2015
The Cooperative College	Other	0.4 miles	— (No rating)
Digital Advantage	Other	0.4 miles	— (No rating)
St Patrick's RC Primary School	Primary	0.4 miles	Good — 13 Jan 2022
Abbott Community Primary School	Primary	0.5 miles	Outstanding — 12 Feb 2019

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
1 Bed Flat, Royal Mills, M4	£1,500/mo	1	0.14 miles	OpenRent
1 Bed Flat, Tib Street, M4	£2,800/mo	1	0.16 miles	OpenRent
1 Bed Flat, Lomax Building, M1	£3,000/mo	1	0.29 miles	OpenRent
1 Bed Flat, Lomax Building, M1	£3,200/mo	1	0.29 miles	OpenRent
1 Bed Flat, Oxygen Tower, M1	£1,300/mo	1	0.37 miles	OpenRent

Average rent: £2,360/mo (5 listings)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 1.27%

Max investor price (0.8%) £350,000

Target investor price (1%) £280,000

Gross yield 15.3%

Cost-to-rent ratio 6.5×

Monthly cashflow £1,629/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term

Cash-on-cash ROI 30.6%

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).