# 2 bedroom apartment for sale (M3 6EU)

## Property Details

| Key | Value |
|-----|-------|
| Address | APARTMENT 167, CITY POINT, 156, CHAPEL STREET, SALFORD, SALFORD, GREATER MANCHESTER M3 6EU |
| Price | £115,000 |
| Bedrooms | 2 |
| Council tax | B |
| Last sold | £162,500 Apr 2004 |

## Description

Auction Commencing on Monday 10th August from 1pm and ending 24 hours later on Tuesday 11th August from 11am with Auction House North East.

Please register to bid via our website - auctionhouse.co.uk/northeast

TWO BEDROOM CITY APARTMENT!

OPEN HOUSE VIEWING:

Saturday 25th July - 12pm - 12.30pm

A well presented two bedroom apartment situated within the popular City Point development, offering an excellent opportunity for investors and owner occupiers alike. Currently vacant, the property has the potential to achieve a rental income in the region of £975–£1,000 PCM, making it an attractive buy to let investment.

The apartment briefly comprises an entrance hallway, open plan living and kitchen area, two well proportioned bedrooms and a modern bathroom. The property also benefits from secure communal access and lift facilities.

Whether you're looking for a city centre home or an investment with strong rental potential, this apartment is well positioned to benefit from Manchester's consistently high demand for quality rental accommodation.

City Point occupies a prime position on Chapel Street, just moments from Manchester city centre and the vibrant Spinningfields business district. Residents enjoy easy access to a fantastic selection of restaurants, bars, cafés, shops and leisure facilities, while Manchester Arndale, Deansgate and the AO Arena are all within easy reach.

The property also benefits from excellent transport links, with Salford Central and Manchester Victoria railway stations both within walking distance, nearby Metrolink services, and convenient access to the M602 and wider motorway network. Its central location continues to attract professionals, students and commuters, underpinning strong rental demand throughout the area.

**Tenure:** Leasehold

**EPC Rating:** C

**Administration Fee:** £3600 inc VAT payable on exchange of contracts.

**Disbursements:** Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

## Property Photos

- ![Ext T202607171215.png](/listings/photos/91024647/1414782) - Ext T202607171215.png
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- ![20260716081605 20260715 133713 RiH7J T202607231455.jpg](/listings/photos/91024647/1459179) - 20260716081605 20260715 133713 RiH7J T202607231455.jpg
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- ![20260716081604 20260715 135523 KChFX T202607231455.jpg](/listings/photos/91024647/1459181) - 20260716081604 20260715 135523 KChFX T202607231455.jpg

## Floorplans

- ![20260716055217 Floorplan 213254 3uwSG T202607231501.png](/listings/photos/91024647/1459182) - 20260716055217 Floorplan 213254 3uwSG T202607231501.png

## Sales History

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

| Address | Price | Date | Type |
|---------|-------|------|------|
| CITY POINT, 156 APARTMENT 167 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6EU | £162,500 | 19/04/2004 | Flat |
| CITY POINT, 156 APARTMENT 167 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6EU | £165,000 | 30/01/2004 | Flat |
| CITY POINT, 156 APARTMENT 167 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6EU | £135,950 | 05/12/2003 | 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 |
|---------|-------|------|------|
| CITY POINT, 156 FLAT 122 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6ET | £162,000 | 22/12/2025 | Flat |
| MODEL LODGING HOUSE FLAT 31 BLOOM STREET, SALFORD, GREATER MANCHESTER, M3 6AJ | £350,000 | 19/12/2025 | Flat |
| CITY POINT, 156 FLAT 135 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6ET | £140,000 | 18/12/2025 | Flat |
| CITY POINT, 156 FLAT 135 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6ET | £140,000 | 18/12/2025 | Flat |
| CITY POINT, 156 FLAT 90 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6ET | £165,000 | 18/12/2025 | Flat |
| CITY POINT, 156 APARTMENT 159 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6EU | £120,000 | 28/11/2025 | Flat |
| CITY POINT, 156 APARTMENT 203 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6EU | £236,000 | 28/11/2025 | Flat |
| FRESH, 138 APARTMENT 314 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6AF | £178,600 | 28/11/2025 | Flat |
| MODEL LODGING HOUSE FLAT 10 BLOOM STREET, SALFORD, GREATER MANCHESTER, M3 6AJ | £262,000 | 26/11/2025 | Flat |
| 150 FLAT 8 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6AF | £182,000 | 26/11/2025 | Flat |
| MODEL LODGING HOUSE FLAT 30 BLOOM STREET, SALFORD, GREATER MANCHESTER, M3 6AJ | £270,000 | 17/11/2025 | Flat |
| MODEL LODGING HOUSE FLAT 25 BLOOM STREET, SALFORD, GREATER MANCHESTER, M3 6AJ | £210,000 | 06/10/2025 | Flat |
| BLOCK D ALTO APARTMENT 12 SILLAVAN WAY, SALFORD, GREATER MANCHESTER, M3 6GF | £270,000 | 30/09/2025 | Flat |
| 239 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 5EP | £120,000 | 22/08/2025 | Flat |
| CITY POINT, 156 APARTMENT 185 CHAPEL STREET, SALFORD, GREATER MANCHESTER, M3 6EU | £220,000 | 22/07/2025 | Flat |
| 96 APARTMENT 3103 GREENGATE, SALFORD, GREATER MANCHESTER, M3 7JH | £407,950 | 23/05/2025 | Flat |
| 96 APARTMENT 2503 GREENGATE, SALFORD, GREATER MANCHESTER, M3 7JH | £324,950 | 22/04/2025 | Flat |
| 96 APARTMENT 2401 GREENGATE, SALFORD, GREATER MANCHESTER, M3 7JH | £264,950 | 03/04/2025 | Flat |
| 96 APARTMENT 2802 GREENGATE, SALFORD, GREATER MANCHESTER, M3 7JH | £357,950 | 31/03/2025 | Flat |
| 96 APARTMENT 2705 GREENGATE, SALFORD, GREATER MANCHESTER, M3 7JH | £400,000 | 28/03/2025 | Flat |

**Area average:** £239,070 (20 sales)

## Price vs local average

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

- **Local average:** £283,113 (356 Flat, M3, 2024–2026)
- **Deviation:** -59.4%

## 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 Central Greater Manchester (Apr 2025 – Mar 2026).*

- **LHA floor (this property size):** £873/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, Block C Alto, M3 | £1,300/mo | 2 | 0.11 miles | OpenRent |
| 2 Bed Flat, Chapel St, M3 | £1,450/mo | 2 | 0.14 miles | OpenRent |
| 2 Bed Flat, Laurence Place, M3 | £1,500/mo | 2 | 0.15 miles | OpenRent |
| 2 Bed Flat, Block B Blackfriars, M3 | £1,550/mo | 2 | 0.21 miles | OpenRent |
| 2 Bed Flat, Local Blackfriars, M3 | £1,600/mo | 2 | 0.21 miles | OpenRent |
| 2 Bed Flat, Block B, M3 | £1,400/mo | 2 | 0.22 miles | OpenRent |
| 2 Bed Flat, Local Blackfriars, M3 | £1,750/mo | 2 | 0.22 miles | OpenRent |
| 2 Bed Flat, Novella, M3 | £1,750/mo | 2 | 0.22 miles | OpenRent |
| 2 Bed Flat, Novella Apartments, M3 | £4,000/mo | 2 | 0.27 miles | OpenRent |

**Average rent: £1,811/mo (9 listings)**

## 1% Rule

- **Rent ratio:** 1.35% (strong)
- **Max investor price (0.8%):** £193,750
- **Target investor price (1%):** £155,000

*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 £1,550/mo).*

- **Gross yield:** 16.2%
- **Cost-to-rent:** 6.2×
- **Monthly cashflow:** £917/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 33%

*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:** -14.9%
- **10y growth:** 24.6%

## 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)