Recently voted as the UK’s most improved City, Preston City Centre is home to this ideally located development, taking advantage of the influx of young professionals into the area.
With UCLan (the North West’s 5th biggest employer), Lancaster University and Edge Hill University, the area has seen a huge increase in graduate retention, with 37% of graduates staying in the area for work. Great trains and bus links also provide easy access to Manchester, Liverpool and beyond.
Since completion the Cannon Street apartments have been in high demand with a continual waiting list of potential tenants. The apartments benefit from modern, high gloss kitchens and bathrooms, neutral floor coverings and some quirky features such as a private rooftop terrace to one of the units.
Ideally situated right in the heart of Preston City Centre these modern living spaces are just what the cities young professionals desire when looking for accommodation close to their place of work.
Why Did We Choose Preston?
Preston is the 3rd largest city in the NorthWest, and with property prices growing 8% in the last 12 months the city it looks set to follow a similar journey as its close neighbours Manchester and Liverpool.
The city is home to University of Central Lancashire which is the North West’s 5th biggest employer and attracts around 30,000 students to the city. While the city continues to be a hit with new businesses following huge investment, and a dramatic upgrade one of the city’s main high streets. Preston has also seen a huge increase in graduate retention, with 37% of graduates staying in the area for work following graduation.
Cannon Street, proved a resounding success with the rental market, with the development fully tenanted within 2 weeks of completion. The site is now set up and running, delivering the returns our valued investors have sought.
Cannon Street - development diary
When we saw this run down City Centre block of apartments it was clear that the building had a lot to offer. The Development was completed within 8 months, during which time 13 of the 14 apartments sold off plan to a mixture of buy to let investors and owner occupiers.
Following completion, all investors took advantage of our expert property management team, who quickly identified and qualified suitable tenants.
Learn More About Our Investments
The Heaton Group are continuing to target Preston as a key location for development and investment. With three successful, completed apartment blocks in the city, we currently have one large development of 130 apartments underway and another in the pipeline.
We know there is very high rental demand in Preston, with all our developments in the city letting quickly and demand increasing.
Enquire about investment opportunities in Preston today.