Monday, 8 July 2019

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Westhampnett, £325,000, 4.8% yield

3 bed house, The Sadlers, Chichester, West Sussex

3 bed house in Westhampnett
Listed for sale on 01/07/19 @ £325,000
Rent = £1,300pcm
Yield = 4.8%
Last sold for £195,000 in 2001 (+67% in 18 years)

I featured an identical house to this three-bedder in Westhampnett a couple of months ago, albeit that one was an end-of-terrace. Nevertheless the accommodation this one provides is the same and better yet it's £25,000 cheaper! At £325,000 this is a lot of property you're getting in an area that is popular with tenants - particularly those working at Rolls Royce.

Spaced out over three floors means the bedroom sizes are all very good, which opens it up to families as well as sharers (likely to be colleagues at the aforementioned Rolls Royce). That price tag is the same as an identical house in the street sold for last June, showing prices have stalled over the past 12 months. For rental purposes though you could look at around £1,300pcm, which would provide a very decent 4.8% from a freehold property.

Whilst it's 18 years old (in which time the value has increased by two-thirds) it appears to be in a good condition. This should mean there won't be much to do before having it ready to rent out to tenants. When you add together its location, size and condition, the price tag becomes even more appealing. Throwing the numbers into the mix and it seems like a very good long-term buy-to-let purchase to me.

The property is on the market with Charles Peck 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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