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See how verdicts work1-bedroom house · PO19 6SH
For saleReduced £17.5k (−8.1%) on 25 AugListed 159 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Tenure: Leasehold 56 Spitalfield Lane is a one-bedroom ground floor flat forming part of a characterful Victorian semi-detached property, built in the traditional Sussex flint and brick style that is characteristic of this part of Chichester.
The flat is offered for sale leasehold, with a share of freehold available at additional cost, and is in need of some internal updating and redecoration-presenting an excellent opportunity for a buyer seeking a well-located property to improve and personalise.
The flat is accessed from the side of the building, with the front door opening directly into the kitchen. This is a practical space fitted with units, worktops, an inset sink, and housing the boiler.
There is also a large storage cupboard and a door leading through to the bathroom, which is fitted with a bath and shower over, WC, and wash basin.
From the kitchen, a door opens into the sitting/dining room-a well-proportioned space featuring a fireplace, a large double storage cupboard to one side, and good natural light.
A further door leads into the bedroom, a generous double room measuring 15'5 x 12'0, with a large bay window to the front aspect.
This room also retains an original open fireplace with an ornate period surround and decorative tiled hearth-a characterful feature that adds real appeal.
To the rear of the flat, accessed from the kitchen, is a private lawned garden. An allocated off-road gravel parking space is located to the rear of the property and accessed from Melbourne Road.
Location Spitalfield Lane sits on the eastern side of Chichester city centre, within easy walking distance of the pedestrianised shopping precinct, St Richard's Hospital and the University of Chichester.
The city offers a wide range of shopping, restaurants, cafes and leisure facilities, as well as the Pallant House Gallery and the Chichester Festival Theatre.
To the north of the city, the Goodwood Estate hosts a number of well-known events including the Festival of Speed and Goodwood Revival, as well as the Glorious Goodwood horseracing festival.
The South Downs National Park is approximately 2.5 miles to the north, and Chichester Harbour, Chichester Marina and the beaches at West Wittering are within easy reach to the south-west.
Chichester station provides rail services along the coast to Portsmouth and Brighton and to London Victoria, with bus stops also nearby.
Value & comps
No previous sales on record.
Returns
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We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 56, Spitalfield Lane, Chichester, PO19
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