This is a relatively inexpensive two bedroom apartment compared to most in Chichester. It is to the East of the city centre, which is still within walking distance (about a mile away). Priced at £179,950 it offers a good amount of space for the money, alongside a decent rental return of 5.5% based on letting it out for £825pcm and paying the full asking price.
It is clean and modern throughout so should rent straight away. It has double glazing throughout but unfortunately the heating is via storage heaters rather than benefitting from the more popular gas-to-radiator central heating.
I think there could be potential in the future to rearrange the internal layout to have an all-in-one lounge/kitchen, or if you wanted to maximise the rental return this could be instigated whilst also reconfiguring a third bedroom where the kitchen currently is. As a three bedroom apartment it could rent well to students or professionals, whilst providing a higher rental figure overall.
It was last sold for £141,500 five years ago, so the current owner has seen a 27% increase in property value during their ownership, which is not unreasonable. This is far better than the owner before them, who had seen the value increase just 4% since buying it in October 2006 for £135,000!
It is on the market with Bell & Blake and full details can be found on Rightmove via the following link:
www.rightmove.co.uk/property-for-sale/property-69973064.html
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