Summary:
2 bed flat in Chichester
Listed for sale on 04/11/15 @ £180,000
Rent = £775pcm
Yield = 5.2%
Last sold in June 2014 for £166,500 (+8.1% in 1 year)
Listed for sale on 04/11/15 @ £180,000
Rent = £775pcm
Yield = 5.2%
Last sold in June 2014 for £166,500 (+8.1% in 1 year)
It was only sold last June (for £166,500) representing an 8.1% increase in price in just 17 months. Looking at it longer-term, it has seen a 38% rise in price since it was sold for £130,000 back in 2006.
It is amongst the cheapest two bedroom apartments available in Chichester so offers a good gross yield of 5.2%, based on renting at £775pcm. As with all flats though, you need to factor in the ground rent and service charges, which bears a large weight on your overall return. In this case the lease has a solid 97 years left, whilst paying the annual £10 ground rent and £600 service charges will bring your rental return down to 4.8%.
Full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-55853057.html
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