As a result, I had a call this morning from a landlord who lives and works in London, and is looking to invest in a rental property in Chichester later this year. He has a healthy cash budget of £150,000, and is looking for a property that will return him the greatest rental yield.
Having looked at various options on Rightmove, I was curious to see how far £150,000 could be stretched in Chichester, where as we all know - house prices are higher than the national average. I must admit I was expecting to find maybe a handful of one bedroom apartments/studios. However, I was rather surprised by one such property that stood out from the rest...
On the market with Cubitt & West estate agency, your £150,000 can get you a two bedroom, two parking space apartment in Caernarvon Road in the Arundel Park area of the city. Better still, the property looks in decent order throughout which will minimise any voids between purchase completion and your first tenancy.
http://www.rightmove.co.uk/property-for-sale/property-48179665.html
Arundel Park is a very popular location in the local lettings market, due to it's variety of property sizes (from studio flats, all the way up to four bedroom detached family homes) and close proximity to the A27.
This particular apartment should fetch £750pcm, and appeal to either a young working couple or two professional sharers - attracting a very respectable 6% gross yield.
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