Monday 19 February 2018

BUY-TO-LET DEAL OF THE WEEK: 3 bedroom house in Tangmere, £275,000, 4.3% yield

3 bed house, Windmill Drive, Tangmere, Chichester


3 bedroom house in Chichester
Listed for sale on 03/02/18 @ £275,000
Rent = £975pcm
Yield = 4.3%
I'm a fan of townhouses as they tend to offer good space, which is adaptable and popular with tenants. I've written about townhouses in Tangmere before and have featured a few as my previous buy-to-let deals of the week too. They aren't all built equally however, and I wanted to demonstrate that with this week's buy-to-let pick.

You see, this one was a shared ownership property. And what many people don't seem to pick up on is that shared ownership properties aren't generally built to as high a specification as the 'full-priced' properties (because developers can't make as much money on them...). In this case the rooms are a little smaller than some of the other three bedroom townhouses on the same estate, the master bedroom doesn't have an en-suite and there's no garage either.

Even so, at £275,000 it has been priced a fraction below what similar properties have sold for recently and you're still getting a modern property that will be ready to rent from day one, with gas central heating and double glazing. And even though it's not as big as some of the other townhouses, it compares well against the two-storey properties. As such, I think it will achieve £975pcm in rent; providing a 4.3% rental yield based on the full asking price.

When you put all that together you're getting a decent property at a fair price, that should rent well and provide a good return, whilst being relatively low-maintenance due to its age.

It is on the market with Cubitt & West 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


Chichester rental valuation

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