The Liverpool-based developer has submitted an application to deliver a 233-studio complex on part of the former Preston police headquarters on Lawson Street.
Caro’s development will see a part seven-, part nine-storey L-shaped block comprising 227 studios constructed on the corner of Lawson Street and Walker Street.
The complex, which would offer a study zone, cinema room and gym, would be used by students of the University of Central Lancashire, located nearby.
The neighbouring eight-storey former office block that was previously used by the police has already been converted into student halls by BPS Developments, a vehicle of the Mahoney family that sold the remainder of the site to Caro.
“Preston’s student market has evolved since the pandemic and expectations have risen,” said Caro managing director Neil Carlyle. “Students have a more holistic view of how they want their home to contribute to their study and leisure time, as well as to their health and wellbeing. Our proposals address these needs directly.”
He added: “Preston’s student numbers have remained steady, but the sudden shift in how students want their homes to support their wellbeing means that the city risks losing out if its offer fails to keep pace with the market.”
Falconer Chester Hall is the architect behind the £22m scheme and Zerum is advising on planning. LDA Design is advising on landscape.
To learn more, search for planning reference number 06/2022/1346 on Preston City Council’s planning portal.
The Lawson Street project is Caro’s first foray into Preston.
“Preston is flying at the moment,” Carlyle said. “Heaton Group’s latest tower scheme has topped out, the former indoor market site is going through the gears and the Station Quarter will deliver a modern central office district that will attract quality occupiers to the city. It’s a good time to invest here.”
In Liverpool, Caro is delivering several projects including a 127-apartment scheme in the Baltic Triangle.