Demand for rental properties close to the
centre of Chichester is always high. Attracting young families, working
couples and professional sharers, these properties fit the needs of a
variety of different tenant profiles.
Over the weekend I took a look at this three bedroom flat just half a mile from the train station and city centre.
The property is in top condition having been recently refurbished and benefits from owning the freehold of the building. It is offered for sale with Whiteheads at an asking price of £205,000.
Considering an identical neighbouring property sold for a similar price over six months ago and there is currently a 2 bed flat next door for sale at £225,000, this offers decent value and won't hang around for long.
A rent of around £900pcm should be achievable, returning a healthy 5.3% yield (remember, although a 'flat' it is in fact freehold so you won't be paying out ground rent & service charges).
One thought I had if you wanted to supercharge these returns is to add an extra shower room into the space on the landing and shift the wall between the small bedroom and lounge to create 2 good size doubles. This would then create 4 double bedrooms with a shared kitchen and 2 shared shower rooms, which, when rented out to professionals on a room by room basis, would nearly double your (gross) yield.
Full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-31474308.html
If you are considering buying a property for investment in the near future, as I don't sell property, I am always happy to give you my considered opinion on which property to buy (or not as the case may be) to give you what you want from your investment.
Over the weekend I took a look at this three bedroom flat just half a mile from the train station and city centre.
The property is in top condition having been recently refurbished and benefits from owning the freehold of the building. It is offered for sale with Whiteheads at an asking price of £205,000.
Considering an identical neighbouring property sold for a similar price over six months ago and there is currently a 2 bed flat next door for sale at £225,000, this offers decent value and won't hang around for long.
A rent of around £900pcm should be achievable, returning a healthy 5.3% yield (remember, although a 'flat' it is in fact freehold so you won't be paying out ground rent & service charges).
One thought I had if you wanted to supercharge these returns is to add an extra shower room into the space on the landing and shift the wall between the small bedroom and lounge to create 2 good size doubles. This would then create 4 double bedrooms with a shared kitchen and 2 shared shower rooms, which, when rented out to professionals on a room by room basis, would nearly double your (gross) yield.
Full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-31474308.html
If you are considering buying a property for investment in the near future, as I don't sell property, I am always happy to give you my considered opinion on which property to buy (or not as the case may be) to give you what you want from your investment.
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If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.
E-mail me on clive@crjlettings.co.uk or call 01243 624 599.
Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles:
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Chichester Investment Property Management Specialist CRJ Letting Agents Website
c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP
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