Monday 23 May 2016

BUY-TO-LET DEAL OF THE WEEK: Studio apartment in Chichester, £125,000, 5.8% yield

chichester studio flat
Studio apartment in Chichester
Listed for sale on 05/11/15 @ £140,000
Now = £125,000
Rent = £600pcm
Yield = 5.8%
This brand new (converted) studio apartment is right in the heart of Chichester's city centre. It's actually been marketed for around 18 months but now the property has been built (around 6 months ago I believe) it seems the vendor is now keen to sell, having just knocked 10% off the asking price.

That drop from £140,000 to £125,000 makes this the cheapest property for sale in Chichester. This makes sense, considering it's just about the smallest, but being brand new (and seemingly done to a great standard) will make renting it a breeze. Its central location should also see it remain highly desirable to both tenants and future buyers.

That great location is the key reason I've suggested a studio apartment, which is not something I would ordinarily recommend. The simple logic to that is the higher £ per square foot you're paying (£364 per square foot) and the limited amount of tenants who would want to pay £600pcm plus bills to live in such a small space. That rental figure would however provide you with a strong 5.8% yield, although I don't know the lease / service charges on the apartment - something to ask the agent.

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:

c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP

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