The Oaks development in Fishbourne has been on my radar for some time. I have previously promoted a two-bed on the development (priced at £230,000) as an excellent buy-to-let and as several more landlords have asked me for my opinion on the development I thought I'd add this three-bed to the list.
*Overnight this property has sold, there are only a few plots left*
The development has been selling very quickly, which is a good sign. Considering they are brand new properties in a nice small development I'm not surprised. Particularly when I have also suggested similar properties on Caspian Close and Cuckoo Fields would make great buy-to-lets, priced closer to £300,000. This three-bed is slightly smaller than those properties and lacks a garage, but the new-build effect should give it a similar rent of £1,050pcm.
This would generate a yield of 4.7%; an excellent rental return for a brand-new property, complete with warranty, on the outskirts of Chichester.
Longer-term I suspect the size of the property and its close proximity to the A27 would mean the other 'newish' 3 bed houses nearby may prove to be the wiser investment, but as the development isn't actually built yet it's rather hard to tell!
*Overnight this property has sold, there are only a few plots left*
The development has been selling very quickly, which is a good sign. Considering they are brand new properties in a nice small development I'm not surprised. Particularly when I have also suggested similar properties on Caspian Close and Cuckoo Fields would make great buy-to-lets, priced closer to £300,000. This three-bed is slightly smaller than those properties and lacks a garage, but the new-build effect should give it a similar rent of £1,050pcm.
This would generate a yield of 4.7%; an excellent rental return for a brand-new property, complete with warranty, on the outskirts of Chichester.
Longer-term I suspect the size of the property and its close proximity to the A27 would mean the other 'newish' 3 bed houses nearby may prove to be the wiser investment, but as the development isn't actually built yet it's rather hard to tell!
Full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-51919886.html
http://www.rightmove.co.uk/property-for-sale/property-51919886.html
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