Monday 9 January 2017

BUY-TO-LET DEAL OF THE WEEK: 4 bed house in Tangmere, £298,000, 4.4% yield

Wellington Place, Tangmere
4 bed house in Tangmere
Listed for sale on 15/12/16 @ £298,000
Rent = £1,100pcm
Yield = 4.4%
Eagle-eyed readers of the Chichester Property News may recognise this property from an article I wrote last September - "Which townhouse in Tangmere is the best buy?"

I probably should've made this property (highlighted as the best out of three similar Tangmere properties) my buy-to-let deal of the week back then. But I didn't...but now I am!

If you re-read the article I wrote last year you'll see there were several very good reasons as to why this four bedroom property in Tangmere could be a good buy.

Tangmere is a good area and is becoming ever more popular with both tenants and homeowners as newer developments in the village further improve the area.

It also hasn't risen as much as the other properties mentioned in that article - rising just 12.4% in a little over six years, having last sold for £265,000 in September 2010. Advertised for £300,000 back then the vendors have made the not very bold decision to drop it £2,000 to an asking price of £298,000.

Then there's the size of the property - 1,255 square feet - far bigger than other similar priced properties nearby and equating to just £237 per square foot (far below the average of £322 per square foot a terraced house in Tangmere is valued at).

These properties can be an odd one to rent - I've seen agents struggle to rent them for £1,200pcm and then reduce them to £995pcm, which just seems too cheap for a property of this size and condition. £1,100pcm seems a more reasonable figure considering the comparables, which would provide a 4.4% yield from a well-presented property built in 2010.

It is on the market with Purple Bricks 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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