As you may already
be aware, Roussillon Park is a new housing development to the north of
Chichester City centre on the site of the historic former military barracks. Previously
the home to Royal Sussex Regiment and Royal Military Police, the site is being
redeveloped to provide 250 new dwellings.
It generally takes
a short amount of time to let properties on the developments. Tenants consider
the proximity of the city centre to be an advantage, as well as the luxury of
living in a new property. A two bedroom coach house, depending on size and
outdoor space, could be purchased for around £280,000 or £290,000. The rents
that could be achieved for these are between £975 and £1000 per month. This
means landlords can potentially expect yields of around 4.3% per year.
Two bedroomed
apartments can be purchased between £260,000 and £270,000 and they typically
can let for between £900 and £950 per month. There is usually the service
charge that a landlord needs to pay to the freeholder of the building, this
usually includes building insurance and grounds maintenance. Even after paying
that service charge, yields of between 4% per year are achievable.
If you have already
done a search for property or are trying to figure out where to start, we’re
happy to advise on properties before you buy. It’s in your interest that you
purchase something that can let, so please give me a call on 01243 887887 or
visit our office on Southgate.
Developers website - http://www.roussillonpark.co.uk/
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