Monday 25 April 2016

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £220,000, 5.3% yield

3 bed house in Chichester
Listed for sale on 16/04/16 @ £220,000
Rent = £975pcm
Yield = 5.3%
Last sold in March 2000 for £74,500 (+168% in 16 years)
This is the cheapest three bed house in Chichester, which seems a good starting point for suggesting it as a decent buy-to-let opportunity. It is need of a full refurbishment, but this should only be cosmetic, with it already having double glazing and gas central heating throughout. Shrewd investors may question why they'd bother with this one when there's one in far better condition on the same street for a mere £10,000 more BUT this one has been extended - giving it a far greater footprint (not that the agent has bothered highlighting this by producing a floorplan!).

It is also marketed for sealed bids, which I dislike, particularly when this agent (who is trumpeting this 'new' approach) makes the buyer pay their (somewhat inflated) agent fees.

Still, when done up it should achieve a rent of around £975pcm, marking it out as one of the cheaper three bed houses to rent in the Chichester area, yet still providing a solid 5.3% yield (based on the asking price). It has also shown good promise for capital growth, having increased 10% a year on average for the last 16 years.

It is on the market with Cubitt & West and full details can be found on Rightmove via the following link:


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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