Monday 15 September 2014

Buy-to-let deal of the day - 2 bed coach house in Tangmere, £195,000, 4.9%+ yield

Coach houses can be a strange proposition. They look like a 1st floor flat above several garages but are freehold, so you have no ground rent and service charges to pay.

This 4 year old coach house in Tangmere is still in immaculate condition, so would be a hassle-free buy-to-let. It is a good size, with two double bedrooms, and has recently been reduced by Clarkes estate agents from £205,000 to £195,000.

Considering it sold in December 2010 near the bottom of the market for £185,000, I think it offers good value 4 years on (Tangmere properties have risen an average 12.9% since then). Plus it still benefits from the new-build guarantee for another 6 years.

Renting for around £700-750pcm would generate a 4.6% yield, but this could be boosted by utilising the (large) garage beneath that comes with it - whether simply renting it out separately or by attempting to get a studio flat in there. It seems unlikely that this would be allowed at the moment, but in the future planning regulations might change and this space could pay dividends.

Full details can be found on Rightmove via the following link:

tangmere buy to let house deal


If you are looking for an agent that is well-establishedprofessional 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 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:

c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP

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