This property has taken the title as the cheapest (standard-construction) property available to buy in Chichester. Priced at £125,000 this decent-sized one bedroom apartment in The Hornet is within spitting distance of Chichester's city centre. This should make it a great location for strong tenant demand from a young professional who either works in town or perhaps wants to make use of Chichester's train station and local amenities.
With this particularly property purchase though you won't have to worry about the tenant demand straight away, as it is already tenanted. Currently let at £580pcm this flat could return a fantastic 5.6% rental yield from day one. The lease has over 100 years left and whilst it appears to have electric heating rather than gas central heating and there's no mention of double glazing either, I believe with that relatively low price tag there should be room for capital growth in the future.
For a landlord looking for an entry level buy-to-let property close to Chichester's city centre, with a strong immediate return, this is definitely worth a look.
It is on the market with Astons and full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-51072870.html
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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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