Prime redevelopment site launches for sale in Preston city centre
Commercial real estate group, Cushman & Wakefield, has been appointed by the Ministry of Justice (MOJ) to launch the sale of the former probation office in the centre of Preston.
The freehold building comes with the potential to redevelop the entire site, or retain the existing four-storey building.
It is located in the centre of Preston just off the main high street, with a mix of retail, office, and residential neighbouring properties, within walking distance of Preston station.
Within a few minutes’ drive of the A59 and M6, it is well connected to major cities across the North West, with Manchester and Liverpool under an hour away by car and train.
The site forms part of the Stoneygate Masterplan Opportunity Area and is referenced under policies within the Preston City Centre Local Plan.
Stoneygate covers around 25 hectares and collectively represents one of the largest regeneration opportunities in Preston City Centre.
The Local Plan permits and encourages high quality and sustainable housing developments and mixed-use leisure as it seeks to achieve an ‘Urban Village’ concept.
Justin Anderson, Associate Director, Development & Strategic Advisory at Cushman & Wakefield, said: “Due to its city centre location, excellent transport links and proximity to both Manchester and Liverpool, we expect strong interest from a broad range of investors and developers.
“The development of Stoneygate will create a vibrant and sustainable urban village for residents, students, businesses, community groups and visitors, and this site presents an exciting opportunity to play a part in the evolution of Preston.”
