Longer-term readers of the newsletter will know how highly I rate two-bed houses in Chichester due to their relative scarcity and desirability. I currently let and manage a near-identical property to this on the same street, so I know it well.
This two-bed house would benefit from a new kitchen and the installation of a cloakroom (or better yet shower room) downstairs off of the kitchen. This will negate one of the major problems with these terraced houses - the only bathroom is only accessible via the main bedroom. That's not a popular set-up with homeowners or tenants, but it is accepted as the norm in the area and for a certain clientele (couple with no children or only young children).
Otherwise the story is a pretty positive one - a freehold property with two large bedrooms, two decent reception rooms, double glazing and gas central heating. Parking can be an issue on the street, but this is because it is close to Chichester's city centre and doesn't require a permit; you'll nearly always find a space, it just makes the street look a little 'messy' with cars parked on both sides of the street.
With the new kitchen and downstairs toilet facility, it would rent for around £900pcm, providing a decent 4.3% yield from a property that has recently been reduced in price and offers good potential for long-term capital growth, particularly if the proposed development to the South of Chichester's city centre goes ahead as planned.
It is on the market with Stride & Son and full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-59743331.html
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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.
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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