Kimberley Street or Fox Street... Which is the best investment in Warrington?

I am talking to someone at the moment who is considering becoming a landlord for the first time. He visited the office to pick our brains – which is a better buy to let investment? Kimberley Street or Fox Street? More importantly, which would offer a better return/yield?

Properties on both streets let and sell well, and they are running parallel to each other, but I wanted to do a bit more research to help with his choice. Having local knowledge, right down to street level, is very useful when it comes to guiding our landlords on where to invest next in Warrington.

From my experience, you can have great investment properties on one end of the street, but on the same street further away they can be failing investments.

The Research

  

The average price for a property on Kimberley Street is £71,890; while on Fox Street it was nearly 10% less, at £67,375. To better understand the investment opportunities available, we took a look at the rents achieved over the last year. The average rent achieved on Fox Street was £465pcm giving a yield of 8.28%. On Kimberley Street the average rent was slightly higher, at £485pcm, with a corresponding yield of 8.09%.

We found both streets to be as good as each other, but as you can see there is hardly any difference in the yield/return, which we would not have identified without the extra investigation. However the extra research gives the investor peace of mind and he then doesn’t just have to take our word for it. In this case, it really comes down to the best available property to buy on the day.

Usually the figures I use are taken from Rightmove or Zoopla. However, as we manage properties on both Fox Street and Kimberley Street, I did a lot of digging through our system’s records and used accurate figures rather than the averages I would have to use from the portals.  There are plenty of streets in Warrington that offer similar or better returns on your investments.

One that is very close by to Kimberley and Fox Street is Wellfield Street – if you follow my blog you will have seen a few articles on this particular street. Here is one about Wellfield Street out-performing Castle Green in Warrington by nearly 45%. Click here to read more.

Other Benefits of these Properties

Another reason why these are great investment areas is because of the location – there is a lovely primary school at the bottom of all three of these roads, and it’s only a 10 minute walk to the High School, St Gregory’s, which is located next to Warrington Peace Centre. The properties are only 10 minutes walk to the town centre and they have plenty of amenities close by – even Sankey Valley Park right on the door step. This makes them desirable for families. As their children will be working their way through the school system, you will not have a high turnaround of tenants. Usually when people move into these houses, they stay for a very long time.

If you are a landlord, whether you deal with us or not, feel free to visit into our office 6 Bankside, Crosfield Street, WA1 1UP to ask our opinion on which property investment is best for you. If you would like to join my monthly email list, email me on manoj@hamletwarrington.co.uk and I will send you a PDF newsletter once a month with research I have collected regarding the Warrington property market.

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