Recently, the city of Preston is seeing an exciting future within property development, with millions invested to build new properties and improve the busy city. With exciting ventures, such as the Shankly Hotel and Preston Markets, there is much for locals to look forward to.
With much more to come, Preston is certainly on the rise.
What is the City Living Strategy?
The City Living Strategy seeks to identify the opportunities to promote and develop a range of residential opportunities. The strategy sets out how to build upon existing residential properties to create an increased population to support future ambitions whilst meeting housing target objectives of the Preston City Centre Plan.
This strategy has been commissioned to support and accelerate the delivery of a thriving residential offer in Preston City Centre.
This is incredibly beneficial for the historic city as it not only provides recommendation for appropriate delivery of new housing schemes, but it also provides key actions for partners to ensure the strategy is successfully delivered.
Transformation of Former Government Buildings
Red Rose House and Elizabeth House, two high rise former Government office buildings located in the centre of Preston, are set to be transformed into an incredible 130 apartments, increasing the living in the city centre.
Both buildings have been vacant since 2018. This is fantastic for Preston as the offices will strengthen improvements to the public realm and boost the economic and social activity at all times of the day and night in the city.
75 apartments are planned for the 11-storey Red Rose House building, with 55 apartments estimated for the nine-storey Elizabeth House Building.
Stoneygate has been identified as an urban village which will benefit from investment in the Harris Quarter and Winckley Square.
Homes are likely to be mainly new build and have the potential to be efficient in terms of size and energy with excellent access to the green spaces and all that the city has to offer. The target population could be young professionals and families.
Plans have already been submitted for 3 apartment blocks to be built on an existing car park on Avenham Street. The plans were submitted by David Cox and will see the 60,000ft site transformed into 274 one-bedroom flats and 20 two-bedroom flats.
There are also exciting plans for the Corporation Street area of the city. Recent plans have been approved to build a new 9-story hotel close to Friargate. There will be 63 bedrooms and a ground floor restaurant.
Councillors approved the plans in hope that the area will see an increase in footfall and possibly migrate some of the traffic from other areas of the city.
Additionally, The UCLan Campus Masterplan sets out a 10 year vision for the area which will focus on opening up the campus with a new square and social space, bringing the city closer to UCLan through landscaping and connections.
The ongoing roadworks on the Adelphi roundabout, due to finish in 2021, is an example of their ongoing work – In addition to the new UCLan Engineering Centre recently built in 2018.
If you’re looking for a property to buy, sell or let in Preston, Click Estate Agents can help. With our vast experience in the ever-changing property market, we can help find the right property for you. To find out more about our services, get in touch with us today.