74 PROPERTY
Industry watchers see Preston as a North West development hotspot. Last year PwC named it the region’s number one city to live and work in.
A fully updated and expanded City Living Prospectus was published in October 2020, promoting 27 sites in the city centre and inner urban areas of Preston.
The city now also has the 15-year Stoneygate regeneration plan, launched in 2019. At the heart of this framework for this historic quarter of the city centre is a new 1,600 home urban village, along with bringing empty and derelict buildings back into use.
The vision is moving forward at pace with a significant residential development scheme now brought to market.
Stoneygate Central has planning approval for 469 units over two phases ranging between six and 16-storeys.
CITY LIVING IS ON THE MOVE
When Preston first launched its City Living Strategy at the Harris Museum in 2017 much of the talk centred on the question of how it would attract developers and investors.
Manchester led the way when it came to delivering residential development in its centre, its skyline dominated by cranes. Investment in Liverpool was gathering pace. Could Preston join its larger neighbours in the city living club?
Fast forward to 2023 and it appears the answer is a resounding ‘yes’. The strategy has come to life, cranes have appeared on its city skyline and the momentum continues to gather pace.
The two-acre site occupies a prominent position within the masterplan area. The design includes large roof terraces as well as around 8,000sq ft of commercial space.
The development opportunity has been brought to market by real estate firm CBRE. Giovanni Pilla, a member of its residential capital markets team, said: “Now is a great time to invest in residential development within Preston city centre. The residential market in Preston is constantly evolving with strong investor appetite for the city.’’
City centre development plans continue to be unveiled. Onward Homes last month shared its vision for land at the historic Horrocks Mill site, between Queen Street and Church Street.
The leading North West housing association says its plans will transform a derelict brownfield site into a “thriving new community” providing much- needed affordable homes.
Onward’s proposals include up to 380 new homes and apartments in different sizes and styles, including family housing such as mews style houses and low-rise apartments.
BLACKBURN | BURNLEY | BOLTON
MAXIMISING COMMERCIAL PROPERTY
Trevor Dawson is here to maximise opportunities through dynamic developments, progressive property and professional advice.
Get in touch today and let us help you realise your property potential.
CAROLINE JAMES
BLACKBURN | 01254 681 133 Capricorn House, Capricorn Park, Blakewater Road, Blackburn BB1 5QR
MICHAEL CAVANNAGH
BURNLEY | 01282 458007 The Portal, Bridgewater Close, Network 65 Business Park, Burnley, BB11 5TT
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