BUY-TO-LET DEAL OF THE WEEK: 2 bed flat in Chichester, £269,000, 4.1% yield
Summary:
2 bed flat in Chichester
Listed for sale on 15/03/16 @ £275,000
Now = £269,000
Rent = £925pcm
Yield = 4.1%
Last sold in September 2014 for £262,000 (+2.7% in 18 months)
Not my normal buy-to-let deal here, a two bed FLAT priced nearly £100,000 more than the two bed flat I highlighted last week, culminating in a much lower yield.
BUT, this apartment is pretty special, with high ceilings and being located on the popular Graylingwell Park development. It is less than two years old and the kicker is that it has barely increased in price in that time. It looks a bargain when you compare it to the price of the new-build apartments springing up around town.
It has two good sized double bedrooms and a well-appointed kitchen and bathroom (an en-suite could quite easily get shoe-horned in I think, which would add appeal for young professionals).
It's been on the market for just 6 weeks yet is already starting to creep down in price (and it looks vacant...). It would rent for around £925pcm, providing a 4.1% yield based on paying the full asking price of £269,000 (a mere £7,000 / 2.7% more than when bought new in September 2014).
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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