Monday, 11 November 2019

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Westhampnett, £335,000, 4.5% yield

3 bed house, Lillywhite Road, Westhampnett
3 bed house in Westhampnett
Listed for sale on 05/11/19 @ £335,000
Rent = £1,250pcm
Yield = 4.5%

This three-bedroom house is in a nice position on this newish-build estate (circa 2011-2013) in Westhampnett. It comes with a driveway and garage, whilst the corner plot affords it a larger than normal rear garden.

These houses are extremely popular with Rolls Royce workers as they are practically next door to the factory / head office. As a result they always rent well and do so at a slight premium to what you might typically expect - in this case you should achieve £1,250pcm based on the better than normal plot. Doing so would give you a decent 4.5% rental return based on the asking price of £335,000, which is reasonable compared to other nearby three-bed houses.

It is in a good condition throughout and comes with all the mod-cons you would expect of a relatively new home i.e. double glazing / gas central heating / downstairs cloakroom / en-suite to master bedroom. It appears to require no significant work or expenditure on it to get it in a ready to rent state, so would suit a landlord looking for a simpler time of things.

There is one thorn in the side of these houses though - they're leasehold (as they're built on Goodwood land). That's quite unusual for houses in general and something to watch for as it means there is an annual ground rent to pay (unusual for a house) plus service charges (quite normal for estates built post 2000). There's been a lot of media attention regarding leasehold houses so it may be that the law changes retrospectively in this regard. For now though there is an impact upon the saleability of the houses as it can put people off; although as long as you factor in the additional cost of the ground rent it shouldn't be anything to be afraid of in my opinion.

The property is on the market with Bell & Blake 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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