Monday, 30 March 2015

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Graylingwell Park, £350,000, 4.6% yield

This is one of the larger 3 bed houses from phase one of the Graylingwell Park development. Originally sold in December 2010 for £315,000, it is now on the market for just 11% more (£350,000 asking price).

Still immaculate inside, you are buying an almost new-build property but without the new-build premium. It would rent for £1,200 per month (another one is listed at £1,250pcm but will soon be empty, losing the landlord money overall). This would generate a reasonable 4.1% from an immaculate, ready to rent, highly desirable property with little on-going maintenance.

As per last week's article about Graylingwell Park though, the addition of solar panels and the generous feed-in-tariff that was offered back in 2010 adds £150 to your monthly income, boosting the yield to 4.6%. This becomes a very decent return from such a low-hassle rental property that should also benefit from good capital growth in the future due to its desirable location on the Graylingwell Park development in the Summersdale area of Chichester.

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

graylingwell park chichester buy to let front

graylingwell park chichester buy to let kitchen

graylingwell park chichester buy to let lounge

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