2 Bed Detached House, Refurb/BRRR, Chichester, PO20 3TE, £299,950

Hook Lane, Aldingbourne, Chichester, West Sussex, PO20 3TE - 2 views - 2 months ago

Refurb/BRRR
ROI: 2%
~68 m²
+16 photos

ValuationOvervalued

Sold Prices£180K - £1.1M
Sold Prices/m²£3.2K/m² - £5.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£4.4K/m²

Value Estimate

£264,829

 

 

End Value (After Refurb)

£305,000

Uplift in Value

+2%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£74,988

Stamp Duty & Legal Fees

£12,696

Refurb Costs

£31,346

Bridging Loan Interest

£7,874

Total Cash In

£128,653

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£305,000

Mortgage (After Refinance)

£228,750

Mortgage LTV

75%

Cash Released

£3,788

Cash Left In

£124,865

Equity

£76,250

Rent Range

£825 - £1,450

Rent Estimate

£1,535

Running Costs/mo

£1,280

Cashflow/mo

£255

Cashflow/yr

£3,059

ROI

2%

Gross Yield

6%

Local Sold Prices

32 sold prices from £180K to £1.1M, average is £287.5K. £3.2K/m² to £5.9K/m², average is £4.2K/m².

PriceDateDistanceAddressBeds 
£279.9K11/200.23 mi22, Meadow Way, Westergate, Chichester, West Sussex PO20 3QT2
£280K10/210.4 mi40, St Richards Road, Westergate, Chichester, West Sussex PO20 3RD2
£275K11/200.41 mi2, Rosvara Avenue, Westergate, Chichester, West Sussex PO20 3RB2
£325K06/210.45 mi6, Woodgate Road, Woodgate, Chichester, West Sussex PO20 3SX2
£345K08/230.48 mi11, Woodgate Close, Woodgate, Chichester, West Sussex PO20 3TA2
£275K01/210.55 mi8, Ivy Close, Westergate, Chichester, West Sussex PO20 3RF2
£235K05/210.55 mi6, Ivy Close, Westergate, Chichester, West Sussex PO20 3RF2
£268K05/210.58 mi27, Lime Avenue, Westergate, Chichester, West Sussex PO20 3UF2
£233K03/210.75 mi31, Barnett Close, Eastergate, Chichester, West Sussex PO20 3UW2
£1.1M12/200.76 miThe Laurels, Old Rectory Drive, Eastergate, Chichester, West Sussex PO20 3XH2
£315K01/241.16 mi8, Sackville Gardens, Barnham, Bognor Regis, West Sussex PO22 0DJ2
£295K11/201.21 mi3, Murrell Gardens, Barnham, Bognor Regis, West Sussex PO22 0DF2
£275K11/231.21 mi33, Elm Grove South, Barnham, Bognor Regis, West Sussex PO22 0EJ2
£349.9K06/211.32 mi4, Drovers Way, Barnham, Bognor Regis, West Sussex PO22 0DD2
£510K03/231.35 mi59, Downview Road, Barnham, Bognor Regis, West Sussex PO22 0EF2
£250K03/211.38 mi17, Gospond Road, Barnham, Bognor Regis, West Sussex PO22 0EU2
£390K11/231.41 mi9, Elm Grove, Barnham, Bognor Regis, West Sussex PO22 0HJ2
£460K01/211.57 miCuracoa, Church Lane, Barnham, Bognor Regis, West Sussex PO22 0DA2
£195K03/211.6 mi29, Warren Way, Barnham, Bognor Regis, West Sussex PO22 0JX2
£295K05/231.65 mi21, Dial Close, Barnham, Bognor Regis, West Sussex PO22 0JU2
£260K06/211.73 mi12, Goodacres, Barnham, Bognor Regis, West Sussex PO22 0JF2
£260K06/211.73 mi22, Goodacres, Barnham, Bognor Regis, West Sussex PO22 0JF2
£372K12/201.8 mi5, Halliford Drive, Barnham, Bognor Regis, West Sussex PO22 0AB2
£345K11/201.8 mi14, Halliford Drive, Barnham, Bognor Regis, West Sussex PO22 0AB2
£405K06/231.8 mi3, Halliford Drive, Barnham, Bognor Regis, West Sussex PO22 0AB2
£315K02/241.83 mi10, Chesham Place, Barnham, Bognor Regis, West Sussex PO22 0FE2
£440K03/241.83 mi33, Nightingale Lane, Barnham, Bognor Regis, West Sussex PO22 0DL2
£218K03/211.89 mi78, Churchwood Drive, Tangmere, Chichester, West Sussex PO20 2GB2
£180K11/201.89 mi102, Churchwood Drive, Tangmere, Chichester, West Sussex PO20 2GB2
£395K12/221.95 mi16, Dukes Road, Fontwell, Arundel, West Sussex BN18 0SP2
£240K11/221.95 mi60, Churchwood Drive, Tangmere, Chichester, West Sussex PO20 2GS2
£280K06/231.95 mi70, Churchwood Drive, Tangmere, Chichester, West Sussex PO20 2GS2

Local Rents

10 rents from £825/mo to £1.4K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,45006/240.12 miHasler Grove, Aldingbourne2
£1,05007/240.2 miLamorna Gardens Westergate PO202
£1,29507/240.58 miLime Avenue, Chichester2
£1,15007/240.6 miNyton Road, Westergate, PO202
£1,20006/240.62 miNyton Road Westergate PO202
£1,15006/241.03 miBarnham Road, Eastergate2
£82509/231.17 mi-2
£1,00002/251.17 mi-2
£1,10004/251.17 mi-2
£1,10004/251.23 mi-2

Local Area Statistics

Population in PO20

32,437

Population in Chichester

75,877

Town centre distance

4.60 miles away

Nearest school

0.20 miles away

Nearest train station

1.56 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+14%

Property History

Listed for £299,950

February 19, 2025

Floor Plans

Description

  • Detached Bungalow +
  • Requires Some Modernisation +
  • Two Double Bedrooms +
  • Open Plan Kitchen/Diner +
  • 150ft South Facing Garden +
  • Off Road Parking and Garage +
  • Excellent scope for Extending (Subject to Planning) +
  • Quiet Location +

This two-bedroom detached non-standard construction bungalow boasts a large south-facing garden and is located in Aldingbourne on the outskirts of the Historic City of Chichester.

Entering through the porch you will find the living room with a fireplace that flows into the open-plan fitted Kitchen/diner with plenty of storage and access to the rear garden. There are two double bedrooms, with the primary featuring a fitted wardrobe and a vanity hand wash basin. The family shower room completes the interior living space.

To the rear of the property is a 150ft south-facing lawned enclosed garden with mature trees and hedges for added privacy offering excellent potential for an extension or the addition of an outbuilding (subject to planning approval). To the front of the property, there is off-road parking as well as a single garage.

Aldingbourne is set amidst beautiful countryside, with nearby Barnham offering local amenities and a mainline rail service to London Victoria (approximately 80 minutes). The cathedral city of Chichester is home to a range of cultural, leisure, and shopping options, including the internationally renowned Festival Theatre, Pallant House Gallery, and museums. The South Downs National Park lies to the north of Chichester, offering miles of scenic walking and cycling trails, as well as the famous Goodwood Estate. Some of the best beaches on the south coast are just a 20-minute drive from the city, and the A27 provides easy access to Brighton to the east and Southampton to the west.

Agents Note: Upon acceptance of an offer, White & Brooks will complete an online identity check provided by Veriphy. The cost of this check to the successful purchaser is £69 including VAT per purchase which will be payable in advance to White & Brooks Ltd. This charge verifies your identity in line with our obligations as requested by HMRC and documents to prove your identity and address will be required.

Agent Details

White & Brooks, Chichester

01243 973413

Next Steps?

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