New to the market this week is a perfect example of a typical Chichester buy-to-let investment property many landlords would consider a great buy. A two bedroom apartment seems to be the mainstay of the rental market, balancing tenant demand, affordability and ease of maintenance (debatable) all in one package.
For £189,995 however, this particular two bedroom apartment on the Swanfield estate in Chichester (near St Richards Hospital), makes a lot of sense. With the average price of a two bedroom apartment in Chichester standing at £289,000, this is at the cheap end of the market. And yet it is a newly refurbished flat in a block of six apartments with a fresh lease. That means the properties are ready to rent immediately and should do so quickly, with a steady pool of tenants looking in this reasonably affordable and convenient part of Chichester.
The fact it is brand new throughout will also help it to stand out amongst the many similar apartments in Chichester and I think should easily achieve £825pcm - even though it doesn't have gas central heating and its second bedroom is a little on the small side. That would provide an excellent 5.2% rental yield, subject to the ground rent and service charge deductions.
It is on the market with Charles Peck and full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-65368682.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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