Monday, 4 December 2017

BUY-TO-LET DEAL OF THE WEEK:3 bedroom house in Chichester, £340,000, 4.2% yield

The Hazel at Graylingwell Park, Connolly Way, off College Lane, Chichester, West Sussex , PO19 6PQ
lounge diner
3 bedroom house in Chichester
Listed for sale on 11/11/17 @ £340,000
Rent = £1,200pcm
Yield = 4.2%
It's not often I consider new-build properties as my 'buy-to-let deal of the week'. But some landlords insist on buying new, and if that's the case you might as well get one that offers decent value! I think this three bedroom house on Graylingwell Park does just that.

Priced at £340,000, it is only £15,000 more than the cheapest new-build two-bedroom apartments that are for sale on Graylingwell Park. Furthermore, it is the same price as an existing three bedroom house that's for sale on the estate, which is now around five years old. It is also the cheapest new-build three-bedroom house in Chichester (note how there are ZERO two-bedroom new-build houses for sale in Chichester...).

The house itself is a decent size, with a separate kitchen/diner and lounge, along with an en-suite to the master bedroom. The advert also suggests there are a couple of parking spaces, which is useful as there are no driveways or garages on the estate. As you'd expect with a new-build, there's the latest double glazing and central heating and of course as everything is new it'll be ready for tenants to move straight in (and for all maintenance to be covered by the builders for the first couple of years).

The existing three bedroom houses on Graylingwell Park normally rent for between £1,100pcm - £1,200pcm and because this one would be brand new it should rent for the higher end of that range i.e. £1,200pcm. At that rent, and based on paying the full asking price, the rental return would be 4.2% per year, which is not bad for a new-build freehold property.

It is on the market with Linden Homes 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

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