Monday 21 September 2020

BUY-TO-LET DEAL OF THE WEEK: 3 bed house in Chichester, £270,000, 4.9% yield

3 bed house in Chichester
Listed for sale on 21/07/20 @ £280,000
Now = £270,000
Rent = £1,100pcm
Yield = 4.9%

This three-bedroom house in Chichester is in a good location close to St Richard's Hospital, which is popular with both hospital workers and young families. The house has just been reduced to a very reasonable £270,000, having been listed for £10,000 more in July.

It is a good size and in reasonably good order, with the fundamentals covered such as gas central heating, double glazing, a modern bathroom, cloakroom and kitchen. I say bathroom, technically it's a shower room as there's no bath, which can be an issue for those with young children. The house could also do with some cosmetic improvements in regards to its general decor and flooring.

Once modernised though it would be a good-sized home in a popular location, which should mean it would let quickly for around £1,100pcm. That would equate to a 4.9% rental return based on the current asking price, which is strong for freehold properties in Chichester.

The property is on the market with Purplebricks and full details can be found on Rightmove via the following link: 

Chichester rental valuation

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