Fleet Street or Victory Street...Which is the best investment?

I was talking to somebody last week from the Exeter, who was considering becoming a landlord for the first time. He wanted to buy an investment property in Plymouth as he felt this would give him a better return on his investment than a property in Exeter. He visited our office to ask us whether buying a property on Fleet Street or Victory Street would make a better Buy to Let investment, and which would offer a better return/yield. He knew the area well, as he lived around there over ten years ago. I confirmed that the properties on both streets let and sell well, but I wanted to do a bit more research to help with his choice...

The average price for a property on Fleet Street has been £114,324; while on Victory Street it was nearly a whole £26 more, at £114,350. To better understand the investment opportunities available, we took a look at the rents achieved over the last year. The average rent achieved on Victory Street was £565 pcm, giving a yield/return of 5.93%. On Fleet Street the average rent was slightly lower, at £550 pcm, with a corresponding yield/return of 5.77%. We found both streets to be as good as each other, but as you can see there is hardly any difference in the yields/returns, which we would not have identified without the extra investigation. In this case it really comes down to the best available property to buy on the day.

If you are a landlord, whether you deal with us or not, feel free to visit us in our office in Stoke Village to ask our opinion on which property investment is best for you.

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