Preston Property Hotspot
£434m of inward investment has been agreed to create 20,000 new jobs across the city
Now more than ever is the time to invest in Preston, where luxury residential investment opportunities are available at affordable prices – during a time when more people than ever are leaving London and setting their sights up north.
The government’s Northern Powerhouse strategy is bringing together the great cities, towns and rural communities of the North of England and Wales to become a powerhouse for our economy. This has helped elevate rental values across many northern regions, with investors flocking to the region’s buy-to-let market and north-west cities such as Manchester and Liverpool leading the way.
Now, as the north west’s third city, Preston is quickly establishing itself as an integral part of the Northern Powerhouse. On the north bank of the River Ribble, the city is the commercial and administrative centre of Lancashire; just an hour’s drive from both Liverpool and Manchester.
In the 2016 Good Growth for Cities Index, northern cities performed better than the UK average. And 2016 marked a significant turning point for Preston when its number of enterprises saw an 18% increase since 2013 and the city was named by The Guardian as the number-one place to live for quality of life in the north of England.
Moreover, Preston has this year retained its Purple Flag Award for the fifth year in a row. The Purple Flag represents those city centres, which provide a vibrant and diverse mix of dining, entertainment and culture between the hours of 5pm and 5am. The award also represents the safety and well-being of visitors and local residents.
Why Invest in Preston?
Preston is experiencing significant growth. £430m of inward investment has been agreed to create 20,000 new jobs across the city, along with the £50 million Market Quarter scheme to restore the 1875 Covered Market.
Moreover, the University of Central Lancashire (UCLan), based in Preston, has a current staff and student community of approximately 38,000. The university has revealed £200 million development proposals, which will transform the city campus over the next 10 years.
Now, several key economic developments in the city have triggered an increase in demand for central, high-quality accommodation for young professionals – making it a wise idea to invest in Preston.
Matt Eastham, a director at Preston-based agents, Easthams & Co, has stated, ‘The smart money is currently being invested in the city centre where major new build residential developments are planned and areas, such as those around Winckley Square, where large Victorian and Georgian properties close to the stunning Avenham Park and Miller Gardens can be acquired for as little as a two-bedroom apartment in Manchester.’
Our Property Development in Preston: Guildhall Square
Our newest development, Guildhall Square, is a fantastic opportunity to invest in one of the best buy-to-let areas in Preston. A former commercial property, the development offers 35 luxury one-bedroom apartments.
Each apartment features a spacious combined kitchen and living area with premium finishes; designed with the young professional market in mind.
One of the best places to invest in Preston 2017 is the area surrounding Winckley Square, where Guildhall Square is idyllically located. This central location connects the property with Preston’s travel infrastructure and city centre amenities; ensuring this development will be one of the most sought after residential investments in Preston.