Monday, 18 September 2017

BUY-TO-LET DEAL OF THE WEEK: 3 bedroom house in Westhampnett, £375,000, 4.5% yield

3 bed house, Stane Street, Westhampnett
3 bedroom house in Westhampnett
Listed for sale on 27/04/17 @ £375,000
Rent = £1,400pcm
Yield = 4.5%

Last sold for £300,000 in January 2010 (+25% in 7.5 years)
This three bedroom house is in Westhampnett, just outside of Chichester, and is more expensive than many of the buy-to-let properties I put to you, priced at £375,000. Then again, it's more property than I normally put to you; an impressive 1,625 square feet! That means it costs just £230 per square foot, which is far lower than the average cost of a square foot of property in Chichester (£350).

It has three super sized bedrooms, which would be ideal for a growing family or for three sharers (a popular tenant type here due to the nearby Rolls Royce HQ and Goodwood). I think it would rent for around £1,400pcm, which may be a lot for a three bedroom house in the area but, as I've already noted, it's a lot of property too. That would mean the property would achieve a 4.5% yield based on paying that asking price, which is 25% higher than when the owner bought the property new in 2010 for £300,000.

It's in really fantastic condition, with clean neutral décor throughout and modern fixtures and fittings. It shouldn't need any work prior to marketing for tenants, so would be a straight out of the box buy-to-let. With a garage, garden, gas central heating and double glazing throughout too, it should attract a professional type of tenant who will appreciate the space this property offers.

If you're looking to invest a decent chunk of money into a property in Chichester, this large three bedroom house should definitely be on your watchlist.

It is on the market with Tod Anstee Hancock 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


Rental valuation

No comments:

Post a Comment