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Interestingly the current owners listed it for sale in 2014 for £179,950, but it didn't sell. Having paid £150,000 in 2009 that means we can crudely see the value increased around £30,000 (20%) between 2009-2014 and a further £50,000 (28%) from 2014 to now.
The advert makes a big point of it having beautiful views over farmland but be careful, I believe these are the same fields that will soon be taken over by the large development in Tangmere - with some 1,000 homes being built. That may sound like a negative, and to some extents it is, but when the new-build three-bed houses start being sold 100 yards away for £300,000+ it will make this house look cheap and very much worth a second look. This could in turn drag the value of this property up, particularly as the development brings a host of new amenities along with it.
In the meantime it should rent for around £950pcm, which is decent value for a three-bedroom house in Tangmere. That would provide a very decent 5% yield from a freehold property, which appears to be in decent 'ready-to-rent' condition.
The property is on the market with Cubitt & West and full details can be found on Rightmove via the following link:
https://www.rightmove.co.uk/property-for-sale/property-73935782.html
If you are looking for an agent that is well-established, professional 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 clive@crjlettings.co.uk 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:
E-mail me on clive@crjlettings.co.uk 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
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