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51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 1
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 2
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 3
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 4
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 5
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 6
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 7
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 8
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 9
51-53 Richmond Street, Manchester, Lancashire, M1 3WB - Image 10

51-53 Richmond Street, Manchester, Lancashire, M1 3WB

North West

£675,000
Listed on 06/06/2025

Property Details

Bedrooms
N/A
Type
Residential Development

Description

This Grade II listed former textile warehouse, established in the 1860s, presents a rare investment opportunity in the heart of Manchester's city centre. Retaining key period features such as timber floors and cast iron columns, this building offers considerable potential for redevelopment. Currently, the internal layout comprises a mix of unused basement and second floors, with basic storage and some partitioned office spaces on the first floor. The property also includes an accessible yard area from Richmond Street, which could facilitate additional parking or potential expansion. Given its location near Canal Street and surrounded by new residential developments, there are numerous possibilities for conversion into residential units, maintaining commercial use, or developing a live/work scheme—contingent on local planning approvals. Prospective buyers are encouraged to consult with the Manchester City Council regarding their development ideas.

Investment Analysis

(M1 area)
Area Average
£401/sq ft
Avg Rent (weekly)
£326
Avg Yield
6.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£150,000 - £250,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
15
Average per month
Market Turnover
4%
Properties sold annually

Local Market Trend (M1)

Area prices are falling by -25.8% over the last 12 months
3 year growth: -6.5%
5 year growth: +1.2%
Investment Disclaimer: Analysis based on M1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

51-53 Richmond Street, Manchester, Lancashire, M1 3WB
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£2,434
Based on a loan of £506,250 over 30 years at 4.06% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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