Summary:
4 bed house in Chichester Listed for sale on 26/07/19 @ £375,000 Now = £347,500 Rent = £1,400pcm Yield = 4.8%
This good-sized townhouse is on the Shopwyke Lakes development to the East of Chichester's city centre. It's only a couple of years old, so it retains everything you would expect from a new build, although this four bedroom end terrace also has a decent-sized garden, driveway and garage.
It's been on since July and I'm a little surprised to see it still on the market six months later whilst the (more expensive) new houses have sold around it (there's only a couple left of the first phase of the development now). Especially when it was originally listed at £375,000 (which seemed reasonable value for a property of this size and age) and it has been reduced in price a couple of times since - most recently the week before Christmas, bringing it down to £347,500. Although the bedrooms aren't the biggest (notably bedroom four is labelled as a study on the floorplan) being spread out over three floors does mean a total floorspace of just over 1,000 square feet, which makes it a sizable home for the price. In fairness, three bedroom townhouses are of a similar overall size, by way of turning what is currently a fair sized double and a small single on the top floor with a shared bathroom, into one large en-suite master bedroom. Even if you think of the house like that (and effectively use bedroom four as a dressing room), it still offers good accommodation for the price. A professional couple or young family may well use the property with that type of set-up in mind, so you'll be competing with three-bedroom houses that are a similar size. Even so, it remains a four-bedroom house and based on it being relatively new it is likely to attract a premium rent, in the region of £1,400pcm. If it does it would achieve a 4.8% rental yield, which is strong for such a new freehold property in Chichester. The property is on the market with Bell & Blake and full details can be found on Rightmove via the following link: https://www.rightmove.co.uk/property-for-sale/property-83546993.html |
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