BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £259,950, 4.5% yield
Summary: 3 bed house in Chichester Listed for sale on 11/05/16 @ £259,950 Rent = £975pcm Yield = 4.5%
New to the market this week is a three bed end terrace house on the popular Swanfield Park development, just behind St. Richards Hospital.
The tape across the appliances and water outlets give the game away - it's a repossession (or 'corporate sale' in agent jargon). You don't see too many repossessions in Chichester, such is the strong capital growth there's normally a way out before the situation becomes so desperate.
Good sized rooms in decent ready-to-rent order in a good location should mean tenants are relatively easy to find for this modern house. A rental figure of around £975pcm would provide a solid 4.5% yield.
One thing to check is the mention of a lease (expiring in 2101). Abit like some of the Westhampnett estates built on Goodwood land, some freehold properties in Chichester do still fall prey to being leasehold with ground rent and the need for a lease extension on the horizon.
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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