Our Developments in Preston
Why invest in property in Preston?
- High rental yield compared to the rest of the UK (above 7%).
- Local population increasing consistently due to economic growth.
- Local amenities such as universities and increasing economy for jobs in the area.
- Continuous investment from councils and the private sector.
Preston has consistently an area The Heaton Group has been involved with for buy-to-let properties. We have multiple development projects that have been refurbished and restored back to their former glory. Our approach has always been to make properties that we would be happy to own ourselves. With high rental yields and significant investment into Preston, the prices for property in Preston will only increase in the future.
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Previous Developments (Sold & Tenanted)
We've completed development on several properties in Preston, mainly apartments. The Sorting Office was a particular challenge, previously it was run down after years of neglect, however we restored it to it's former glory and the apartments sold very quickly due to the desirability. The area where both these properties are is nearby to some amazing views and parks and is highly desirable for people looking to live.
We have continued our interest into Preston's investment by redeveloping a former office block at Bishopgate, we will be transforming it into Bishopgate Gardens, a 134 apartment complex in the city centre, with a new way of living with on-site concierge service and retail amenities below the apartment complex.
Preston is a fantastic investment opportunity - below are some reasons why buy-to-let property in Preston may be a smart move.
Situated in the North West of England, Preston is a big part of the Northern Powerhouse. Ideally placed between Edinburgh and London, it is a commuters dream as all rail and transport links are available to travel anywhere in the country. Perhaps most appealing is the proximity to the Lake District, a UNESCO national heritage centre, a mere 30 minute train journey away.
Preston is ideally placed for commuting to nearby areas such as Manchester and Liverpool - linking the city with nearby large urban areas.
Property prices in Preston have been on the rise due to the significant investment in the area from both public and private sectors. With an increase in population and demand for properties, flats and apartments have increased by 74% in 2019 when compared to 2018 prices and 2020 has continued this trend. Semi-detached and terraced properties also increased in value, but only by approximately 5%.
Preston has a significant amount of new bars and restaurants to enjoy. Some of the larger chains make their home in Preston along with the UK's first ever KFC. There is also a redeveloped Market Hall complex with both indoor and outdoor markets and trendy coffee shops.
There are several shopping complexes in the city centre such as Fishergate and St. Georges Shopping Centre, along with a fantastic selection of shopping along the high street.
There are also multiple sporting complexes in the area, home of Preston North End F.C and some of the most picturesque parks in the North of England, with views of both the Lake District and Northern Ireland/Isle of Man on a clear day.
As one of the oldest settlements in the UK, Preston has a diverse culture from all walks of life. With the Harris Museum and Art Gallery, Preston has an amazing array of historically significant information within. Preston has always been regarded as friendly and welcoming to all around, with a large student population thanks to UCLAN and some huge employers in the area such as the NHS and Booths. The population is also famously diverse and friendly.
As a major employment centre for the NHS, Preston has a wealth of health sector jobs. There is a growing creative industry with some large design and digital agencies making their home in Preston. There are power stations, with a strong energy economy in the area and large distribution centres nearby for logistics. Preston has had a massive amount of investment in recent years, so jobs are on the rise in the area as a result of continued investment.
Get in Touch
To speak to a member of our team regarding any of our existing developments in Preston or if you're thinking of investing then please do get in touch.