Monday, 9 October 2017

BUY-TO-LET DEAL OF THE WEEK: 1 bedroom apartment in Chichester, £204,995, 4.7% yield

1 bed apartment, Longley Road, Chichester
1 bedroom apartment in Chichester
Listed for sale on 28/09/17 @ £204,995
Rent = £800pcm
Yield = 4.7%
I previously highlighted a two bedroom apartment in the same development (Graylingwell Park, Chichester) as this week's buy-to-let suggestion. I've just this week marketed that two bedroom apartment for rent (at £950pcm) and then I saw this one bedroom apartment come to the sales market.

It offers similar benefits of being in a converted Victorian building, which offers character and beautiful large sash windows that radiate light into the high ceiling rooms, but comes with modern insulation and amenities. The bedroom is an excellent size and the property is in a great condition throughout, with a modern kitchen and bathroom.

I recently let a one bedroom property in the nearby Roussillon Park at £850pcm and must admit I was a little surprised by the relatively high tenant demand from what, at that price, is an expensive one bedroom apartment. As this particular apartment doesn't have a separate kitchen I think it is likely to fetch around £800pcm, which is still above the £750pcm average a one bedroom apartment lets for in Chichester. This is warranted though, due to its location amongst 85 acres of parkland and its great presentation. At that rent it would provide a yield of 4.7% based on the full asking price of £204,995.

It is on the market with Cubitt & West and full details can be found on Rightmove via the following link:

***NOTE: The property is now SOLD. Clearly it was a good pick, so I'm sorry you didn't get a chance to review it before it was snapped up. If you're looking for a buy-to-let and would like some help wading through the properties for sale, please get in touch. ***

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

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