Monday 12 October 2020

BUY-TO-LET DEAL OF THE WEEK: 4 bed house in Chichester, £300,000, 5.2% yield

4 bed house in Chichester
Listed for sale on 06/10/20 @ £300,000
Rent = £1,300pcm
Yield = 5.2%

This is amongst the cheapest four-bedroom houses in Chichester currently for sale, which makes it a good place to start in suggesting it as a decent buy. It's also in good condition and remains relatively modern having been built in circa 2008. That means you get double glazing, gas central heating, downstairs cloakroom, en-suite to the principal bedroom and modern fittings throughout.

Townhouses (houses set over three or more floors) often provide good value in regards to maximising square footage for the money. In this case, there is 1,316 square feet of floor space (including the integral garage), which equates to just £228 per square foot. That's a third lower than the average of £342 per square foot for terraced houses in Chichester. 

That is based on an asking price of £300,000, having just been brought to the market. I've seen these same properties sell for £325,000 in the past year, so this already seems something of a bargain. With an expected rental figure of £1,300pcm that would produce a very strong 5.2% rental return from this freehold house, which seemingly needs little work to get it ready to rent.

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

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