Spotlight on Preston

Preston is another North-West area that we are soon to develop in. Awarded city status in 2002, it is a great, upcoming area for investors for a number reasons:

Location

North of Manchester, Preston is home to UCLAN (University of Central Lancashire) which brings around 30,000 students to the city. Preston railway station is a major station on the West Coast Mainline which provides easy access across the North West of England and beyond (Manchester 40 Mins) Blackburn (17 mins)

Investment & Regeneration

The Preston and Lancashire City Deal: Landmark agreement to achieve a transformation of the area, creating thousands of new jobs and homes. A total £434m new investment is pledged. A forecast of 20,000 new jobs and 17,420 new homes to be created. It will provide a huge boost to the local economy, which is expected to grow by £1 billion over the next ten years.

Markets quarter scheme: £50m Markets Quarter development. The plans for the area comprise a new 11-screen cinema with a large format experience screen, seven family restaurant units and a new multi-storey car park of 593 spaces. The market area itself is benefitting from refurbishment of the canopies and the construction of a new glazed market hall.

Transport: One of the main high streets in Preston city centre has been upgraded to create a contemporary shared space for both pedestrians and vehicles. Eventual improved route along Lancaster Road to the bus station. A submission has been put to National Rail for a vision for this important station on the West Coast mainline. The vision positions Preston as a key destination in preparation for future HS2 plans.

Universities:

As one of the biggest universities in the country, the city deal project will be helping to improve the UCLAN’s campus and see the construction of a new Engineering Innovation Centre building due to start in 2017. With a student and staff community approaching 38,000 it is the fifth largest employer in the North West of England. In 2015 the Centre for World University Rankings placed UCLan in the top 3.8 percent of all worldwide universities

The Heaton Groups newest project is in the centre on Preston – We are confident that high demand from investors, owner occupiers and tenants will ensure the development is a success.

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