Monday 21 January 2019

BUY-TO-LET DEAL OF THE WEEK: 4 bed house in Tangmere, £415,000, 4.1% yield

4 bed house in Tangmere
Listed for sale on 04/09/18 @ £425,000
Now = £415,000
Rent = £1,400pcm
Yield = 4.1%

For those landlords who prefer to buy larger properties or new-builds, one of the last remaining plots at Bader Heights in Tangmere could fit the bill nicely. The assurance of everything being new and under warranty is worth paying a little more than a second-hand equivalent property to this type of landlord and, as I always say, it's horses for courses when it comes to property investment!

If you do go down this route it's often a good idea to pick up one of the last plots the builder has to sell, as they will often offer discounts to be able to get off-site. In this case the asking price of £415,000 is cheaper than similar properties have sold for on the estate and, paired to a rental figure of £1,400pcm, means you'll still get a decent 4.1% rental return.

Conventional wisdom suggests it's better to buy two smaller properties than one large one, both to increase the total rental return and to spread your risk (against void periods / non-paying tenants). For some though they'd rather invest a bulk sum in fewer properties than have multiple tenants, boilers and rents to think about.

Double that with what is a large family home, complete with driveway and garage, in Tangmere - a village gaining more popularity amongst tenants - and I think this detached house could be a good long-term investment.

The property is on the market with King & Chasemore (although I'd recommend you visit the site and speak with the builder, Miller Homes, directly) 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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