Monday 29 May 2017

BUY-TO-LET DEAL OF THE WEEK: 2 bedroom flat in Chichester, £218,500, 4.7% yield

chichester buy to let flat

chichester buy-to-let flat lounge

2 bedroom flat in Chichester
Listed for sale on 20/03/17 @ £230,000
Now = £218,500
Rent = £850pcm
Yield = 4.7%
I spotted this week's buy-to-let deal of the week a couple of months back when it first came on the market for sale at £230,000. It caught my eye because I manage the (identical) apartment above. In fact, I've moved new tenants into it just this week! I therefore have a good grasp on the property, the block and the area and can confirm that it let very quickly due to its close proximity to St. Richard's Hospital, at £850pcm.

The two bedroom apartment has just been reduced to £218,500, meaning a gross yield of 4.7% is achievable (remember to factor in the flat's ground rent and service charges when comparing the return against a freehold property). It is a good size apartment, albeit the second bedroom is rather small, which limits the potential to house sharers. That's a shame as two double bedrooms would lend itself to this market very aptly, particularly as the master has it's own en-suite shower room so effectively each bedroom has a bathroom. Nevertheless, the rest of the apartment makes up for it as the master bedroom is a good size and the lounge/diner/kitchen all-in-one living space is perfect for young professionals.

The block is about 10 years old, so it maintains a modern feel and should mean you are able to move tenants in straight away without needing to do any major refurbishment work. Its location will mean you should always have a steady queue of tenants looking to rent what is a nicely presented and laid out apartment at a reasonable price for Chichester (where the average 2 bed flat costs £280,000).

It is on the market with King and Chasemore 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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