# 2 bedroom apartment for sale (M3 5FS) ## Property Details | Key | Value | |-----|-------| | Address | Stanley St, Manchester, M3 5FS | | Price | £362,000 | | Bedrooms | 2 | | Bathrooms | 1 | | Council tax | TBC | ## Description *COMPLETE & READY TO LET OR LIVE* *HIGHLY SOUGHT-AFTER LOCATION* *ON-SITE AMENITIES* *HIGH SPECIFICATION* **Novella** - This stunning apartment sits within the Novella development, right on the cusp on Manchester city centre, with incredible transport links, nearby hotspots, and top-quality amenities on-site. This apartment features a spacious, open-plan corner kitchen and living room layout, two generous bedrooms, and a shared bathroom. Situated on the 12th floor, the apartment looks out onto the River Irwell and across Manchester's growing skyline. **Location** - Novella offers superb connectivity, with Salford Central station only a 7 minute walk away, as well as tram and bus stops dotted around the city. The development backs directly onto the River Irwell, providing serene surroundings whilst still being in the heart of the city. You're only a stones throw away from Spinningfield, the city's financial district, with ample job opportunities, high level restaurants, shops, and more. Nearby you'll also find top entertainment spots, like padel courts, the Crystal Maze, and the Science and Industry Museum. **Amenities** - Within the development, resident's have access to a host of amenities: a fully-equipped gym, wellness studio, 6th floor podium gardens, 24/7 concierge, co-working space, private dining space, parcel and bike storage. **Why Orlando Reid?** - We’ve been in the field for 15 years, and as an independently-owned, award-winning consultancy, we’ve watched the growth of Manchester with our own eyes. Unlike other agencies, we put people first. No matter what you’re looking for, our experts are on hand to find the home or investment that’s just perfect for you. ## Property Photos - ![Untitled-3-03.jpg](/listings/photos/163332335/113039) - Untitled-3-03.jpg - ![Untitled-3-01.jpg](/listings/photos/163332335/113040) - Untitled-3-01.jpg - ![Untitled-3-02.jpg](/listings/photos/163332335/113041) - Untitled-3-02.jpg - ![Untitled-3-04.jpg](/listings/photos/163332335/113042) - Untitled-3-04.jpg - ![Untitled-3-05.jpg](/listings/photos/163332335/113043) - Untitled-3-05.jpg - ![Untitled-3-07.jpg](/listings/photos/163332335/113044) - Untitled-3-07.jpg - ![Untitled-3-08.jpg](/listings/photos/163332335/113045) - Untitled-3-08.jpg - ![Untitled-3-09.jpg](/listings/photos/163332335/113046) - Untitled-3-09.jpg - ![Untitled-3-10.jpg](/listings/photos/163332335/113047) - Untitled-3-10.jpg - ![Untitled-3-11.jpg](/listings/photos/163332335/113048) - Untitled-3-11.jpg - ![Untitled-3-12.jpg](/listings/photos/163332335/113049) - Untitled-3-12.jpg - ![Untitled-3-06.jpg](/listings/photos/163332335/113050) - Untitled-3-06.jpg ## Sold Comparables *Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.* | Address | Price | Date | Type | |---------|-------|------|------| | 32 APARTMENT 407 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5FZ | £177,000 | 19/12/2025 | Flat | | 29 APARTMENT 2901 NEW BAILEY STREET, SALFORD, GREATER MANCHESTER, M3 5GR | £360,000 | 10/06/2025 | Flat | | 32 APARTMENT 1010 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5GD | £320,000 | 10/06/2025 | Flat | | 32 APARTMENT 1304 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5GE | £250,000 | 10/06/2025 | Flat | | 32 APARTMENT 1205 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5GD | £330,000 | 10/06/2025 | Flat | | 32 APARTMENT 1309 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5GE | £310,000 | 10/06/2025 | Flat | | 32 APARTMENT 1008 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5GD | £320,000 | 10/06/2025 | Flat | | THE BAYLEY, 21 APARTMENT 45 NEW BAILEY STREET, SALFORD, GREATER MANCHESTER, M3 5AX | £107,000 | 13/01/2025 | Flat | | THE BAYLEY, 21 APARTMENT 45 NEW BAILEY STREET, SALFORD, GREATER MANCHESTER, M3 5AX | £107,000 | 13/01/2025 | Flat | | 32 APARTMENT 401 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5FZ | £265,000 | 20/12/2023 | Flat | | 32 APARTMENT 1202 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5GD | £320,000 | 27/10/2023 | Flat | | 32 APARTMENT 309 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5FZ | £275,000 | 26/10/2023 | Flat | | 32 APARTMENT 412 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5FZ | £180,000 | 20/10/2023 | Flat | | 29 APARTMENT 209 NEW BAILEY STREET, SALFORD, GREATER MANCHESTER, M3 5GN | £230,000 | 20/10/2023 | Flat | | 29 APARTMENT 1305 NEW BAILEY STREET, SALFORD, GREATER MANCHESTER, M3 5GP | £265,000 | 10/07/2023 | Flat | | 32 APARTMENT 1007 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5GD | £192,000 | 16/06/2023 | Flat | | 6 APARTMENT 1028 LEFTBANK, MANCHESTER, GREATER MANCHESTER, M3 3AF | £250,000 | 16/06/2023 | Flat | | THE BAYLEY, 21 APARTMENT 50 NEW BAILEY STREET, SALFORD, GREATER MANCHESTER, M3 5AX | £115,000 | 13/04/2023 | Flat | | THE BAYLEY, 21 APARTMENT 52 NEW BAILEY STREET, SALFORD, GREATER MANCHESTER, M3 5AX | £105,000 | 13/04/2023 | Flat | | 32 APARTMENT 603 QUAY STREET, SALFORD, GREATER MANCHESTER, M3 5FZ | £298,000 | 16/01/2023 | Flat | **Area average:** £238,800 (20 sales) ## Price vs local average *Outcode + property type (HousePrices, last 2 years).* - **Local average:** £285,168 (345 Flat, M3, 2024–2026) - **Deviation:** +26.9% ## 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, Dearmans Place, M3 | £1,350/mo | 2 | 0.1 miles | OpenRent | | 2 Bed Flat, Novella, M3 | £1,750/mo | 2 | 0.17 miles | OpenRent | | 2 Bed Flat, Novella Apartments, M3 | £4,000/mo | 2 | 0.24 miles | OpenRent | **Average rent: £2,367/mo (3 listings)** ## 1% Rule - **Rent ratio:** 0.48% (weak for cashflow) - **Max investor price (0.8%):** £218,750 - **Target investor price (1%):** £175,000 *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 £1,750/mo).* - **Gross yield:** 5.8% - **Cost-to-rent:** 17.2× - **Monthly cashflow:** £124/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term) - **Cash-on-cash ROI:** 1.4% *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:** -2.4% - **10y growth:** 32% ## House Price Index (HM Land Registry) *Official index for Salford; Flats and maisonettes series; as of March 2026.* - **1y growth (index):** -5.6% - **5y growth (index):** 11% - **10y growth (index):** 71.5% ## 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)