# 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 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 ## 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, 59 410 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH | £237,000 | 17/11/2023 | Flat | | NUOVO APARTMENTS, 59 411 GREAT ANCOATS STREET, MANCHESTER, GREATER MANCHESTER, M4 5AH | £210,000 | 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, One Vesta Street, M4 | £1,400/mo | 1 | 0.43 miles | OpenRent | **Average rent: £1,400/mo (1 listing)** ## 1% Rule - **Rent ratio:** 0.64% (weak for cashflow) - **Max investor price (0.8%):** £175,000 - **Target investor price (1%):** £140,000 *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 £1,400/mo).* - **Gross yield:** 7.6% - **Cost-to-rent:** 13.1× - **Monthly cashflow:** £369/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term) - **Cash-on-cash ROI:** 6.9% *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)