# 2 bedroom apartment for sale (M15 4LY)

## Property Details

| Key | Value |
|-----|-------|
| Address | Hulme Hall Road, Manchester, Greater Manchester, M15, M15 4LY |
| Price | £233,000 |
| Bedrooms | 2 |
| Bathrooms | 1 |

## Description

Manchester City-Centre Investment Opportunity

Nestled in the waterside Castlefield district of Manchester, Excelsior Works offers a rare investment entry into a premium city-centre development. This luxury canalside residence provides one- and two-bedroom apartments finished to a high specification, complete with rooftop gardens, concierge services. Located a short walk from the city's business, entertainment and transport hubs, it represents a unique blend of urban convenience and lifestyle appeal.

Manchester's property market continues to strengthen, driven by strong rental demand, job creation and growing population. Developments in key regeneration zones like Castlefield are highly sought after, thanks to their high-end finishes and central location. Excelsior Works is already completed and operational, meaning immediate occupation and income potential for investors.

For investors, the combination of premium specification, central canalside setting and strong market fundamentals make Excelsior Works a compelling proposition. With projected yields reaching up to 6.5 %, priority on quality rental stock and Manchester's upward trajectory in both capital growth and rental rates, this development presents both immediate income and long-term value potential.

Contact us today to find out more about this exciting Manchester investment opportunity

## Property Photos

- ![Photo](/listings/photos/174007178/104480)
- ![Photo](/listings/photos/174007178/104481)
- ![Photo](/listings/photos/174007178/104482)
- ![Photo](/listings/photos/174007178/104483)

## Sold Comparables

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| 2 APARTMENT 271 KELSO PLACE, MANCHESTER, GREATER MANCHESTER, M15 4GQ | £175,000 | 25/02/2026 | Flat |
| MERE HOUSE, 62 APARTMENT 32 ELLESMERE STREET, MANCHESTER, GREATER MANCHESTER, M15 4QR | £200,000 | 20/02/2026 | Flat |
| 2 APARTMENT 226 KELSO PLACE, MANCHESTER, GREATER MANCHESTER, M15 4GQ | £205,000 | 06/02/2026 | Flat |
| TARN HOUSE, 60 APARTMENT 11 ELLESMERE STREET, MANCHESTER, GREATER MANCHESTER, M15 4QQ | £184,000 | 15/01/2026 | Flat |
| LAKE HOUSE, 66 APARTMENT 7 ELLESMERE STREET, MANCHESTER, GREATER MANCHESTER, M15 4QT | £170,000 | 14/01/2026 | Flat |
| [Same street] 2 FLAT 502 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £290,000 | 09/01/2026 | Flat |
| 4 APARTMENT 454 KELSO PLACE, MANCHESTER, GREATER MANCHESTER, M15 4GT | £210,000 | 09/01/2026 | Flat |
| BROOK HOUSE, 64 APARTMENT 13 ELLESMERE STREET, MANCHESTER, GREATER MANCHESTER, M15 4QS | £130,000 | 19/12/2025 | Flat |
| 2 APARTMENT 2111 KELSO PLACE, MANCHESTER, GREATER MANCHESTER, M15 4GR | £180,000 | 05/12/2025 | Flat |
| 2 APARTMENT 234 KELSO PLACE, MANCHESTER, GREATER MANCHESTER, M15 4GQ | £216,000 | 28/11/2025 | Flat |
| BROOK HOUSE, 64 APARTMENT 21 ELLESMERE STREET, MANCHESTER, GREATER MANCHESTER, M15 4QS | £165,000 | 28/11/2025 | Flat |
| 4 APARTMENT 426 KELSO PLACE, MANCHESTER, GREATER MANCHESTER, M15 4GT | £209,950 | 28/11/2025 | Flat |
| MERE HOUSE, 62 APARTMENT 30 ELLESMERE STREET, MANCHESTER, GREATER MANCHESTER, M15 4QR | £190,000 | 19/11/2025 | Flat |
| 3 APARTMENT 406 BURTON PLACE, MANCHESTER, GREATER MANCHESTER, M15 4LR | £170,000 | 30/10/2025 | Flat |
| [Same street] 2 FLAT 6 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £235,000 | 22/09/2025 | Flat |
| 3 APARTMENT 312 KELSO PLACE, MANCHESTER, GREATER MANCHESTER, M15 4GS | £200,000 | 29/08/2025 | Flat |
| 3 APARTMENT 201 BURTON PLACE, MANCHESTER, GREATER MANCHESTER, M15 4LR | £130,000 | 31/07/2025 | Flat |
| 3B FLAT 510 SPINNERS WAY, MANCHESTER, GREATER MANCHESTER, M15 4SR | £278,950 | 10/02/2025 | Flat |
| [Same street] 2 FLAT 110 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £205,000 | 02/12/2024 | Flat |
| 5 APARTMENT 521 KELSO PLACE, MANCHESTER, GREATER MANCHESTER, M15 4GY | £210,000 | 03/10/2024 | Flat |
| 3B FLAT 603 SPINNERS WAY, MANCHESTER, GREATER MANCHESTER, M15 4SR | £282,950 | 25/07/2024 | Flat |
| 7 FLAT 12 SPINNERS WAY, MANCHESTER, GREATER MANCHESTER, M15 4UU | £159,638 | 28/05/2024 | Flat |
| 7 FLAT 311 SPINNERS WAY, MANCHESTER, GREATER MANCHESTER, M15 4UU | £212,950 | 10/05/2024 | Flat |
| [Same street] 2 FLAT 206 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £284,400 | 15/12/2022 | Flat |
| [Same street] 2 FLAT 301 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £318,400 | 09/12/2022 | Flat |
| [Same street] 2 FLAT 207 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £293,700 | 30/11/2022 | Flat |
| [Same street] 2 FLAT 306 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £289,600 | 31/10/2022 | Flat |
| [Same street] 2 FLAT 508 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £228,800 | 07/10/2022 | Flat |
| [Same street] 2 FLAT 402 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £271,000 | 30/09/2022 | Flat |
| [Same street] 2 FLAT 409 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £245,000 | 28/09/2022 | Flat |
| [Same street] 2 FLAT 210 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £240,000 | 28/09/2022 | Flat |
| [Same street] 2 FLAT 412 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £245,000 | 28/09/2022 | Flat |
| [Same street] 2 FLAT 309 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £245,000 | 28/09/2022 | Flat |
| [Same street] 2 FLAT 610 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £257,500 | 28/09/2022 | Flat |
| [Same street] 2 FLAT 510 HULME HALL ROAD, MANCHESTER, GREATER MANCHESTER, M15 4LY | £252,500 | 28/09/2022 | Flat |

**Street average:** £260,060 (15 sales)
**Area average:** £193,972 (20 sales)

## Price vs local average

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

- **Local average:** £234,126 (80 Flat, M15, 2024–2026)
- **Deviation:** -0.5%

## Rental Range

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

- **Low:** £1,229/mo
- **Realistic:** £1,365/mo
- **Optimistic:** £1,502/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, Worrall St, M5 | £1,450/mo | 2 | 0.19 miles | OpenRent |
| 2 Bed Flat, Worrall St, M5 | £2,400/mo | 2 | 0.22 miles | OpenRent |
| 2 Bed Flat, The Riley Building, M5 | £2,275/mo | 2 | 0.24 miles | OpenRent |
| 2 Bed Flat, Belfry House, M15 | £1,550/mo | 2 | 0.29 miles | OpenRent |
| 2 Bed Flat, Drawbridge House, M15 | £3,000/mo | 2 | 0.3 miles | OpenRent |
| 2 Bed Flat, Shawheath Close, M15 | £3,000/mo | 2 | 0.3 miles | OpenRent |

**Average rent: £2,279/mo (6 listings)**

## 1% Rule

- **Rent ratio:** 1% (strong)
- **Max investor price (0.8%):** £292,250
- **Target investor price (1%):** £233,800

*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 £2,338/mo).*

- **Gross yield:** 12%
- **Cost-to-rent:** 8.3×
- **Monthly cashflow:** £1,162/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 20.6%

*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:** -25.2%
- **10y growth:** 24.4%

## House Price Index (HM Land Registry)

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

- **1y growth (index):** -2%
- **5y growth (index):** 9.1%
- **10y growth (index):** 56.3%

## 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)