Monday 7 September 2015

BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Westhampnett, £280,000, 4.3% yield

I've spoken many times how rare two bedroom houses are around Chichester (there are currently just 11 to rent in the whole of Chichester!).

This two bed house is just three years old and remains in excellent condition throughout. Ordinarily I'd say this means it can be rented straight away, helping minimise the void, as well as appealing to tenants so it should let quickly.

On this occasion, however, it is being sold with a tenant in situ.

With these tenants currently paying £1,000pcm and wanting to stay in the property, it would mean you'd receive a 4.3% rental yield from day one. Be sure to check who the tenants are and get proof they've been paying the rent before you begin a tenancy with them.

On the basis it was bought from new for £200,000 in May 2012, if it were to sell for its £280,000 asking price this would mean an increase in price of 40% in three years! That far outstrips the local average and I wonder whether this is justified but there are so few two bedroom houses the lack of supply and strong demand has seen prices rise strongly. With Chichester, Goodwood and Rolls Royce all on its doorstep, this two bed house is well placed for this trend of strong capital growth and solid rental returns to continue.

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

westhampnett kitchen

westhampnett lounge


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:


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