Serving Generation Rent
Preston: What you need to know
The rental market is forecast to grow by
The Private Rented Sector, and build-to-rent
Preston is the 3rd largest city in the North West and with
over one million households over the
property in particular, are filling this gap by
Real Estate Prices growing by 8% in the last 12 months,
next five years. Low interest rates combined
offering smarter homes and better solutions
the city looks set to follow a similar journey to its close
with steady economic recovery are leading
for those in need of a home.
neighbours Manchester and Liverpool.
Today’s millennials don’t want to live in rental
The city is home to UCLAN (University of Central Lancashire)
accommodation that makes them feel like
which attracts around 30,000 students. Preston also
it’s a short-term solution. Most of them are
continues to benefit from new businesses following
for young adults.
renting out of choice, and they want to get
huge investment into infrastructure and an exciting
the most out of the perks that come with it.
City Plan proposal. The City Plan is already being
The demand from Generation Rent for
No hassle, no strings and easy to do.
put in place with a dramatic upgrade to one of the
to a strong expansion of the rental market, and with house price inflation now surpassing wage growth, the first step onto the property ladder is getting harder
accommodation continues to grow,
city’s main high street and a total renovation of the
underlining the long-term trend which
indoor market creating a Market Quarter.
predates the financial crisis from 2007.
PRESTON
Preston’s railway station is a major stop on the West Coast
MANCHESTER
main line which provides easy access to the North West of
“According to the Nationwide Building Society’s House Price Index in 2018, London’s house prices have dropped one percent year-over-year. Manchester, on the other hand, has seen growth since 2015, with prices rising over seven percent year-over-year”
England and London. A trip to Liverpool with take you just
LIVERPOOL
50 minutes, while you will be in Manchester in just under 40. Preston is also earmarked as a key destination on the planned HS2 route, and work is already underway to upgrade the stations facilities and further transport network into the city.
Hometrack (a U.K.-based residential property market analytics firm) *CGI of past Development
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Preston: Investment & Regeneration The Preston and Lancashire City Deal is a landmark agreement providing
Newly regenerated Preston Market
record amounts of funding and investment to achieve a transformation of the city, creating thousands of new jobs and homes. A total of £434m has been pledged, which is forecast to create 20,000 new jobs and 17,420 new homes. The deal will provide a huge boost to the local economy, which is expected to grow by £1 billion over the next ten years. A further £50m has been earmarked for the redevelopment of the Markets Quarter. This regeneration plan will comprise of an 11-screen cinema, seven family restaurant units and a new multi-storey car park of 593 spaces. UCLAN Masterplan: Over the 10 year lifespan of the project it is anticipated investing £200 million, helping to create jobs, kick-start regeneration and attract inward investment into Preston.
Newly regenerated Preston Market
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Phase one of scheduled improvements to Fishergate shopping area
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Preston: The Big Players
Cannon Street: The Build Situated in the heart of one of the North’s most upcoming cities, completed block of 14 tenanted apartments.
Lancashire County Council The Preston and Lancashire City deal is set to increase the local economy by £1 billion over the next ten years.
BAE Systems This award-winning manufacturer employs over 11,000 people in England’s North West.
Leyland RDC A regional distribution centre catering for 57 branches and creating hundreds of jobs.
Booths Central Office & Distribution Central Office and Distribution centre with thousands of employees.
UCLAN The fifth largest employer in the North West of England.
Parcelforce Worldwide Large and efficient, the North West hub is an award winning, state-of-the-art distribution centre.
Recently voted as the UK’s most improved
Great trains and bus links also provide easy
City, Preston is home to this ideally located
access to Manchester, Liverpool and beyond.
development, taking advantage of the
Since its completion the apartments have
influx of young professionals into the area.
been in high demand with a continual waiting
With UCLan (the North West’s 5th biggest
list of potential tenants. The apartments
employer), Lancaster University and
benefit from modern, high gloss kitchens and
Edge Hill University, the area has seen a
bathrooms, neutral floor coverings and some
huge increase in graduate retention,
quirky features such as a private rooftop
with 37% of graduates staying in the area
terrace to one of the units.
for work.
Since its completion the apartments have been in high demand with a continual waiting list of potential tenants.
*CGI of past Development
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Apartment 1
Apartment 2
Apartment 3
Apartment 4
Apartment 5
Apartment 6
One Bedroom Apartment
One Bedroom Apartment
One Bedroom Apartment
One Bedroom Apartment
One Bedroom Apartment
One Bedroom Apartment
Features
Features
Features
Features
Features
Features
• Ground floor
• Ground floor
• Ground floor
• Ground floor
• First floor
• First floor
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 49m2
• 44m2
• 44m2
• 42m
• 49m
• 44m2
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2
2
13
Apartment 7
Apartment 8
Apartment 9
Apartment 10
Apartment 11
Apartment 12
One Bedroom Apartment
One Bedroom Apartment
One Bedroom Apartment
One Bedroom Apartment
One Bedroom Apartment
One Bedroom Apartment
Features
Features
Features
Features
Features
Features
• First floor
• First floor
• Second floor
• Second floor
• Second floor
• Second floor
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 1 bed apartment with juliet balcony
• 44m
• 42m
• 49m
• 44m
• 44m
• 42m2
2
14
2
2
2
2
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Apartment 13
Apartment 14
One Bedroom Apartment
Two Bedroom Apartment
Buying at Cannon Street Purchase Process
£5,000 on Reservation: Secures the property for 28 days until exchange.
30% of the total sales price is paid on exchange of contracts minus reservation fee (within the 28 day reservation period).
70% On Completion of Development
Features
Features
• Third floor
• Third floor
• 1 bed apartment with juliet balcony
• 2 bed apartment with private roof terrace
• 49m2
• 88m2
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Disclaimer: This brochure has been produced in good faith by The Heaton Group. All sales are conducted direct between the buyer and the Heaton Group. Every care has been taken to ensure that all marketing materials, prices, oor plans, visuals and brochures are correct at time of issue however these do not constitute property particulars for contractual purposes. Please be sure to check all ďŹ nal materials ahead of signing any purchase contract. Homes can be repossessed if you do not keep up with payments. Properties purchased o-plan or incomplete can be open to further risks and losses to buyers. We recommend buyers to seek legal and professional advice where possible and must stress that investing in property does carry risk. Property prices can go down as well as up.