Monday, 13 June 2016

BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Chichester, £205,000, 5.2% yield

chichester buy-to-let house
kitchen refurb needed
redecoration required
2 bed house in Chichester
Listed for sale on 07/06/16 @ £205,000
Rent = £895pcm
Yield = 5.2%
This is the cheapest two bedroom house currently available in Chichester, which isn't surprising considering the condition of it inside! But, this gives a perfect opportunity to refurbish the property to a great standard to attract good-quality tenants, which should be plentiful considering it's location (near the hospital) and size (large).

Priced at £205,000 it clearly needs some money spent on it so it's a little disingenuous to label it with having a 5.2% yield (rent should be around £895pcm when done up). But, even spending £20,000 completely turning the whole place around would still give a solid 4.8% yield from a property that should show great tenant desire and capital growth potential due to the constant shortage of two-bed houses in Chichester, both for sale and for rent. Re-doing everything inside should also reduce the on-going maintenance the property will throw up.

There's even an outside chance that due to the upstairs footprint being quite large it could become a three bedroom house, although I think this would compromise too much on bedroom sizes. I'd rather let a spacious two bed rather than a crammed three bed and it would suit a couple of sharers or young professionals in its current form.

It is on the market with Charles Peck 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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