A prime residential development opportunity in the heart of Preston city centre has hit the market.
CBRE has been appointed to sell the Stoneygate Central site, which has planning approval for 469 units over two phases ranging between six and 16 storeys.
The two acre site is bound by Grimshaw Street to the east, Manchester Road to the west and Queen Street to the south and incorporates 8,000 sq ft of commercial space, internal amenity space and large roof terraces.
The development is located within the Stoneygate masterplan area – a 15-year regeneration framework that will deliver 1,600 homes in a new urban village.
Will Atherton from CBRE’s UK development and residential team said: “Stoneygate Central presents an exceptional opportunity for a developer to bring forward a landmark scheme in Preston city centre. The scheme has been thoughtfully designed to accommodate modern lifestyle requirements, tailored to the needs of the locality.”
Giovanni Pilla from CBRE’s residential capital markets team added: “Now is a great time to invest in residential development within Preston city centre. The residential market in Preston is constantly evolving with strong investor appetite for the city and we are delighted to launch this rare development opportunity within the heart of the Stoneygate masterplan.”
CBRE is offering the opportunity for developers to acquire the full scheme, or in separate phases of 185 units and 284 units respectively.
