Monday, 9 April 2018

BUY-TO-LET DEAL OF THE WEEK: 3 bedroom house in Chichester, £299,950, 4.6% yield

3 bed house, Newlands Lane, Chichester, West Sussex kitchen lounge

3 bedroom house in Chichester
Listed for sale on 19/03/18 @ £299,950
Rent = £1,150pcm
Yield = 4.6%
Last sold in 2010 for £220,000 (+36% in 8 years)

This property on the Parklands estate in Chichester will make a wonderful family home - be it for owner-occupiers or for tenants, who will likely be paying £1,150pcm to rent this three-bedroom house, which comes with an asking price of £299,950.

That asking price is a 36% increase from the £220,000 the current owners paid in 2010. That may sound like a large increase, but properties in Chichester have increased by 43% on average in that time, and I've seen similar houses on the Parklands estate for well in excess of £300,000, so I think this good-sized home offers great value.

I often mention Parklands as a highly-desirable area within Chichester for families due to the excellent nearby schools (Parklands Primary & Bishop Luffa), so when investing in this particular area it makes sense to focus on family homes (rather than small flats).

For prospective landlords, that £1,150pcm rental income would mean a 4.6% rental return based on paying the full asking price - which is a strong yield in Chichester for a freehold property.

Considering it's good proportions (large lounge, good sized kitchen with an additional room next to it, two double bedrooms and a large single) and it's excellent condition (neutral décor, modern kitchen and bathroom) it would make a great purchase. There's little to nothing that needs doing, the house comes with the almost obligatory-nowadays double glazing and gas central heating, so it's ready to move into or start earning an income from right away.

The property is on the market with Charles Peck and full details can be found on Rightmove via the following link:

If your 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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