Monday, 16 July 2018

BUY-TO-LET DEAL OF THE WEEK: 3 bedroom house in Chichester, £275,000, 4.6% yield

3 bed house, Kingsham Road, Chichester, West Sussexkitchenlounge

3 bedroom house in Chichester
Listed for sale on 07/06/18 @ £300,000
Now = £275,000
Rent = £1,050pcm
Yield = 4.6%

Last sold for £199,000 in 2005 (+38% in 13 years)

A chunky £25,000 reduction on this three-bedroom house in Chichester has brought it down from (offers over) £300,000 to a more realistic £275,000. As I've said many times, three-bedroom houses in Chichester under £300,000 are always worth a look from an investment point of view. And I've also mentioned this part of the city before and the potential for solid uplift in the future as it gets a boost from the proposed Southern Gateway development.

Fundamentally it is a good-sized three-bedroom house close to Chichester's city centre, which appears to be in a good condition throughout. The kitchen may need replacing in the not-too-distant future, but that would give you the opportunity to knock through into the dining room to make a nice kitchen/diner to the rear of the property. This would add value - both for re-sale and to the lettings side of things.

Currently I'd expect a rental of around £1,050pcm, which would mean a 4.6% rental return based on paying that new asking price of £275,000. As for re-sale, well the current owner has seen a 38% rise since paying £199,000...but that's taken 13 years! That suggests to me that this property could be a coiled spring; ready to explode in the future, with value added by internal upgrades as well as improvements to the area.

The property is on the market with Cubitt & West 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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