Guildhall Square Development Progress
Guildhall Square offers a lucrative opportunity for investors in the fast-growing city of Preston. This converted commercial property features 35 high-end apartments designed for young professionals. With spacious kitchen and living areas and premium finishes, this development is in an ideal location for transport links across the city and beyond. Guildhall Square offers modern apartments from £70,000. Due for completion in November 2018, they have a NET rental return of 8%. Catering for Preston’s increasing numbers of young professionals, and just a 16-minute walk from the prestigious University of Central Lancashire, this development offers strong potential for capital growth. See how this development is progressing with the Guildhall Square Construction Update below.
Preston – The Heart of Lancashire
Preston is the thriving commercial and administrative centre of Lancashire with an excellent transport network that makes it a popular choice for a variety of businesses. The city is also home to the University of Central Lancashire (UCLAN) which has approximately 30,000 students. UCLAN has come on in leaps and bounds in recent years and has grown steadily as a viable choice for domestic and overseas students.
Number one in the UK for aerospace, Preston is home to the UK’s largest concentration of aerospace employment and 4th largest aerospace cluster in the world.
Preston is experiencing significant growth, with a lot more projected for the future. In 2016, there were over 5,000 enterprises in Preston. That figure demonstrated an increase of nearly 18% over the three-year period between 2013 and 2016. Preston has negotiated £430m of inward investment that will be used to create 20,000 new jobs across the city, along with the £50 million Market Quarter scheme to restore the 1875 Covered Market.
Now, several key economic developments in Preston have triggered an increase in demand for central, high-quality accommodation for young professionals for which the apartments at Guildhall Square are perfectly suited.