Monday, 17 April 2017

BUY-TO-LET DEAL OF THE WEEK: 4 bedroom house in Tangmere, £289,950, 4.6% yield

Windmill Drive, Tangmere
4 bedroom mid-terrace house in Tangmere
Listed for sale on 12/04/17 @ £289,950
Rent = £1,100pcm
Yield = 4.6%
Last sold for £275,000 in April 2015 (+5.5% in 2 years)
New to the market this week is a four bedroom mid-terrace townhouse in Tangmere, which is just to the East of Chichester and an area I have often said is one of my preferred local areas for buy-to-let.

This is because there are a lot of new-builds being developed in Tangmere, which brings new infrastructure and amenities and should 'lift' the overall appeal of the area. Pre-owned stock starts to look good value too when you compare it against the inflated new-build prices; this three/four bedroom house with a garage is only around 10% more than a new-build two bedroom house without a garage.

Longer term readers may remember I wrote a specific article about townhouses in Tangmere last year - "Which townhouse in Tangmere is the best".

Using that research we can see that this particular Tangmere townhouse is coming to the market at a realistic price (£289,950), which is in fact only 5.5% more than the £275,000 the current owner paid just two years ago. It also means that you should be able to achieve a decent 4.6% yield from what is a modern property, which should appeal to families. That is based on paying that full asking price and achieving £1,100pcm - a reasonably strong rent for the area, but considering this could be seen as a four bedroom house it would be cheap compared to what is available in nearby Chichester (where the average four bedroom house rents for £1,495).

Even as a three bedroom home (the fourth bedroom is very small and is on the ground floor) the property is a good size, plus has the benefit of the garage, so I think this house would rent quickly. It also has the benefit of having a minimal amount of work to do prior to letting.

Again, looking at the new-builds nearby, those two bedroom houses without garages are renting for around £995pcm - so this should look like a logical next step for those looking for more space and/or bangs for their buck.

It is on the market with Henry Adams 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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