Monday, 28 November 2016

BUY-TO-LET DEAL OF THE WEEK: 1 bed flat in Chichester, £159,995, 5.6% yield

1 bed flat in Chichester
Listed for sale on 21/11/16 @ £159,995
Rent = £750pcm
Yield = 5.6%
Last sold for £126,500 in March 2012 (+26.5% in 4.5 years)
Once you get over some of the worst, most overexposed, photography I've seen on a property advert for some time, you'll see that this week's buy-to-let deal in Chichester could be a real find.

I often get potential landlords come to me who ask "what can I buy in Chichester with around £175,000?" The answer is, normally, "not a lot!" This property, however, gives me reason to reconsider my answer as proof that decent rental properties do in fact become available in Chichester for those on a 'budget'. At this price range I'll often lean towards buying a house in Portsmouth - it would rent for around £750pcm and, as it's a house, it would not have any service charges. That seems much better to me than buying a low-end flat in Chichester, even if the capital growth may not be as strong.

This one bed flat priced at £159,995 trumps that though. It would rent for £750pcm and as you own a share of the freehold you don't have service charges or ground rent to pay (you do of course need to ensure the property is being maintained correctly between you and your upstairs neighbour).

It has double glazing, gas central heating and needs little, if nothing, doing to it (the bathroom could benefit from a spruce up though).

It last sold for £126,500 in March 2012, so the current owner has seen a great 26% increase in value in their four and a half years of ownership.

It is on the market with Pink & Cow (an online agent in Portsmouth I've never heard of before) 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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