Monday, 5 December 2016

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £350,000, 4.1% yield

Deer Close, Donnington, Chichester house
3 bed house in Chichester
Listed for sale on 08/11/16 @ £350,000
Rent = £1,200pcm
Yield = 4.1%
Last sold for £250,000 in May 2006 (+40% in 10.5 years)

This week's Chichester buy-to-let deal is a lovely three bedroom detached house on The Meadows estate; an estate I wrote about last year - "Why The Meadows might be my favourite estate in Chichester".

As you can imagine from that title, I rather like this property. The house has good sized rooms and is on a particularly nice plot on the estate, with a driveway and garage alongside the house and a private front garden (a rarity in today's new-builds!).

Being only ten years old it also still feels modern and well-built and this particular home seems to have benefited from a replacement kitchen in that time too, further lifting the appeal to tenants. It is neutrally decorated and modern throughout so needs no money spent on it.

It's a little more than the £300,000 - £325,000 range I've seen three bed houses sell for on The Meadows in the past year or two, but it must be said it is a particularly nice one. A 40% increase since it was bought new in May 2006 for £250,000 is not wholly unreasonable.

Because it stands out as one of the nicer homes on the estate, it would also command a slightly higher rent than is normal; I think £1,200pcm is realistic although that would only provide a 4.1% yield. That's not a bad return from a freehold house that should rent well, not incur too many costly maintenance bills and should provide good capital growth in the future.

It is on the market with Bell & Blake 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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