BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester with annex, £340,000, 4.9% yield
Summary: 3 bed house in Chichester with annex Listed for sale on 30/12/15 @ £360,000 Now £340,000 Rent = £900pcm + £500pcm Yield = 4.9% Last sold in September 2008 for £174,950 (+106% in 7.5 years)
This is two properties in one!
The current owners have added the side extension (so the whopping £185,000 increase in value since they bought it in September 2008 isn't all profit) to create a one bedroom self-contained annex.
The house itself is set on a substantial plot, with good-sized rooms and a large garden creating an excellent family home that should achieve around £900pcm.
Add to this the annex, which could effectively be let as a one bedroom flat for around £500pcm and you get a total monthly income of £1,400, which would provide a 4.9% yield based on paying the asking price of £340,000 (which was just reduced from £360,000).
It is on the market with Henry Adams and full details can be found on Rightmove via the following link:
If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.
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