Monday, 24 October 2016

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £265,000, 4.5% yield

Lewis Road Chichester house

3 bed house in Chichester
Listed for sale on 20/10/16 @ £265,000
Rent = £995pcm
Yield = 4.5%
New to the market in Chichester this week is a three bedroom house in Lewis Road, close to the centre of Chichester. It has the fundamentals in place; double glazing and gas central heating (although I couldn't spot any radiators in their traditional place under the windows), but the house does require some modernisation. It doesn't look too bad from the pictures though; definitely a new bathroom is required but then it needs an inspection to decide whether the kitchen should be replaced along with any flooring and decoration.

It is a good size three bedroom semi-detached house, with two double bedrooms and a smaller single room. The bathroom is upstairs, which isn't always the case with the houses nearby and there is still a cloakroom off the kitchen/utility area.

An asking price of £265,000 is reasonable compared to what else is on the market and what the most recent properties sold on the street for (£269,950 & £275,000). Whilst there's no previous sold data for this specific property, there are signs of decent capital growth potential with similar houses on the street having sold for around £200,000 in 2010 & 2012 whilst reaching around £245,000 just before the credit crunch (can you believe the Northern Rock debacle happened over 9 years ago!)

It's decent location, good sized rooms and plentiful on-road (permit) parking should see it achieve around £995pcm in rent, which would equate to a 4.5% yield based on paying the full asking price of £265,000 (but not factoring in refurbishment costs).

It is on the market with Sims Williams 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

No comments:

Post a Comment