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The Exchange

The Exchange, County Hall, Preston, United Kingdom, Preston, PR1 8XB

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£130,243

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About the development

We are delighted to release a selection of luxury apartments from just £123k with 7% yields in the third largest city in the Northwest, which is set to benefit from 20,000 new jobs, 1 million sq.ft. of office space and an economy that is set to grow by £1billion over the next 10 years. Our project in the heart of Preston City Centre forms part of The Stoneygate Masterplan, one of the biggest regeneration projects in the UK, set to transform a 62 acre site into a world-class leisure, retail and office destination. It is also a short walk from the University of Central Lancashire which is home to 34,000 students and undergoing a £250 million expansion. Less than a 10 minute drive from the development is the BAE Headquarters, a 50 hectare centre of excellence for Engineering professionals that is undergoing multi-billion expansion. Perfectly positioned in the heart of Preston and on the doorstep of the main shopping district, restaurants, bars, parks and train station is our latest new build residential development. The high-specification project, comprises of 200 luxury one, two and three bedroom apartments and will include a concierge service, rooftop gardens, gymnasium, business lounge and a 5* hotel-like lobby entrance. All apartments will be finished to the most luxurious of standards and the development includes stunning onsite amenities making this an ideal place to live or a superb long-term investment. The development is perfectly positioned in the heart of the centre and forms part of the major Stoneygate and City Deal investment initiatives. It is also next to the University of Lancashire’s campus undergoing a £250 million expansion. Shopping Preston boasts some of the best retail in the North West, attracting visitors from across Lancashire. The city has a strong high-street offering, as well as markets, independent and vintage outlets, along with three shopping centres and two retail parks. Residents don’t have to go far to ‘shop until they drop’, making Preston the perfect place to while away an afternoon window shopping and taking in all the city has to offer. Food and drink After all that shopping, what better way to relax than enjoying some food and drink from one of Preston’s many independent restaurants or bars? Home to Central Lancashire’s best pub—The Guild Ale House— there are plenty of places to wet your whistle with a local beer, or you could check out the famous Baker Street Bar and Restaurant, dating back to 1818. After a £1m pound renovation, the latter spreads over three floors and has some truly quirky features and a buzzing atmosphere, making it a favourite for locals and visitors to the city. Sport and leisure If sport is more your thing, Preston has much to offer, with three golf clubs in the surrounding area, a number of gyms and leisure facilities and award-winning green space—last year seven of Preston’s parks received Green Flags, a Green Heritage accreditation or a Green Flag Community Award. And with the UK’s largest national park, The Lake District a short journey north, and the Peak District to the south, there is plenty to keep you entertained. The Exchange is made up of 200 residential units, with a mixture of one-, two- and three-bedroom, high-specification apartments spread over three separate blocks. Residents will benefit from a host of on-site amenities, including a gym, concierge and secure bicycle storage, making this a luxury development which will appeal to young professional renters. Setting The Exchange apart from other developments, the scheme will also offer a residents lounge and roof garden, helping to create a relaxing community space for tenants to meet and unwind.

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    Investment

    Stoneygate Masterplan – 62 acre city centre site – £375 million investment - 10 year masterplan. The City Deal Partnership - £434 Million Investment - 20,000 new jobs – Economy to grow by £1Billion. University of Central Lancashire, Preston – 34,000 students–£250 million expansion. Lancashire Enterprise Partnership - £1 Billion Growth Plan for Lancashire including Preston. Harris Quarter - £1 million revamp and creation of new piazza and market square. Lancashire – 4th Largest Aerospace cluster in the world - 52,000 businesses generating £33Billion to the economy pa. · 200 Luxury Apartments in Preston City Centre · Prime PR1 postcode with central location · Forms part of 10-year Stoneygate Masterplan – 62 acre mixed use development · 5 minute walk from future HS2 station · Next to Fishergate Shopping district, bars, restaurants and parks · 20,000 new jobs being created with economy set to increase by £1 Billion · Prices from £123k with yields of 7% and ROI of 19% · State of the art facilities – Rooftop Gardens, Gym, Business Lounge · 40,000 employees within a 5 mile radius of development · First new-build development in the city · Completion Q2, 2020 · Lease Term 250 years, Ground rent 0.1% of purchase price, S.Charge £1.50 per sq.ft. Preston has been on an upward trajectory since it was granted city status in 2002. Now the third-largest city in the North West, it continues to go from strength-to-strength. Thanks to a package of private and public sector deals, the city is experiencing a ‘once-in-a-lifetime transformation’ that’s set to level-up its social and business infrastructure with a total forecasted growth of £1bn over the next decade. Preston has been a leading force for business in the UK and the wider European and global markets since the Industrial Revolution. Today, it is home to the highest number of registered enterprises in Lancashire (5,165) and continues to attract new talent every year, including many from the University of Central Lancashire and beyond looking to put down permanent roots. With enviable transport links, established business and education hubs and a clear path for sustained growth, the city has an exciting future ahead as both a place to live and invest. Last year, rents in Preston rose by 4%, almost double the national average. (Zoopla, 2019) Preston’s commuter footprint grew by almost 70,000 people from 2001 to 2011 and is continuing to accelerate. (Preston Council, 2019)
    Connectivity / Transforming The City
    Preston is a well-connected city. Located just above (and almost equidistant to) Manchester and Liverpool, it is logistically desirable for both businesses and those looking for an up-and-coming city to call home. Located on the West Coast mainline, it’s within easy reach of the UK’s major hubs including Manchester, Liverpool, Glasgow, Edinburgh, Birmingham and the capital city, London. Preston is also firmly in the commuter belt for its larger neighbours which are currently experiencing rapid expansion and dramatic growth in city centre postcodes. With fast and direct services to Manchester and Liverpool in under an hour - it’s an attractive proposition for any renters looking for affordable housing with all the benefits of city centre living. Those looking to escape the day-to-day can also find the UK’s famous UNESCO World Heritage site, the Lake District, on their doorstep. The city gives its residents access to not only one of the most breathtaking landscapes in the country, but in the world. Preston has been identified by local and national government as an area of great potential. So much so, the city has received considerable recent investment, resulting in a rapidly developing cultural and economic landscape. A number of schemes are already in place to upgrade Preston... Preston, South Ribble and Lancashire City Deal Signed in 2013, the Preston, South Ribble and Lancashire City Deal identifies Preston as a city ripe for economic growth and seeks to bring forward that potential through its Infrastructure Delivery Programme and Investment Fund which totals £434m of new investment. “A landmark agreement to achieve a once-in-a-lifetime transformation of the area, creating thousands of new jobs and homes.” Preston City Council The Infrastructure Delivery Programme is better connecting the area through the development and enhancement of local transport links, with a core focus on four road schemes. Its purpose is to unlock opportunities for new development, open the door to 17,420 new homes and create more than 20,000 jobs for new and existing residents. The City Deal Investment Fund is a £100m grant from the Lancashire Pension Fund which has been earmarked for co-investment into commercial housing and development projects.

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