HISTORIC HOTEL SET FOR £70m REBIRTH
Plans for the £70m transformation of Preston’s long-vacant Park Hotel have moved a step closer after securing £8.6m of government funding.
The funding, awarded through Homes England’s final round of the Building Infrastructure and Land Fund, will help unlock the wider £70m regeneration scheme.
Developer Heaton Group plans to convert the historic building into a 92-bedroom apart-hotel alongside the construction of 239 apartments. The former hotel has stood empty since 2011, when Lancashire County Council vacated the premises. Plans combine heritage refurbishment with new-build residential development.
Funding was secured through a collaboration between Preston City Council, Homes England, Hive Land and Planning and Heaton Group.
John Heaton, managing director of Heaton Group, described the funding as “a significant milestone” and “a major boost for Preston’s city centre regeneration ambitions”. He added that the Park Hotel remains “a cornerstone of Preston’s heritage”.
He said: “The grant will help unlock the wider redevelopment of a long-vacant landmark
site, bringing new homes, high-quality accommodation and investment into the city.
“It demonstrates confidence in Preston’s growth potential and the strength of the vision we have developed with our partners.
“Our focus now turns to progressing the detailed design and delivery programme so we can bring this important scheme forward and create lasting benefits for Preston.”
regeneration at Preston City Council, said: “We are wholly supportive of this significant collaboration, which marks a major step forward in the city’s regeneration journey.
“The Park Hotel is a beloved part of Preston’s heritage and a prominent gateway into the city. This investment is a huge boost for the area and Preston’s City Living strategy.”
Duncan Inglis, director of MPP North at Homes England, said: “The transformation
The Park Hotel is a beloved part of Preston’s
heritage and a prominent gateway into the city. This investment is a huge boost for the area and its City Living strategy
Nick Thompson, director at Hive Land and Planning, said: “This is a fantastic outcome for Preston and we are very pleased Homes England has endorsed the city council’s regeneration vision with this substantial funding award.”
Coun Valerie Wise, cabinet member for community wealth building and city
of the Park Hotel is an excellent example of how Homes England funding and cross- sector partnership working can drive regeneration and deliver new homes.
“By unlocking a long-vacant brownfield site in the heart of Preston, this investment will deliver 239 new build-to-rent homes alongside a revitalised apart-hotel business, supporting placemaking and economic growth in the city centre.”
Graham Baldwin, vice chancellor of the University of Lancashire and chair of the Preston Regeneration Board, said: “This is an excellent example of the public and private sectors working together to deliver a quality scheme.
“Preston is a great place to live, study, work and visit, and this development will further strengthen that offer.”
Lancashire Business View reported in February that property lender Together had provided a six figure bridging loan to support the purchase of the landmark building.
John Heaton CGI of the hotel plan
Built in 1883, the Park Hotel was one of Preston’s leading hotels before being converted into Lancashire County Council offices in the 1950s.
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