£13m Preston development gets green light
THE company behind a new £13m development says it is looking to trigger the wider regeneration of Preston’s Friargate area after it has been given the green light for the project by city planners.
Work will start by the end of the year to transform shops and buildings on the historic city centre street into modern retail units and accommodation for students at the University of Central Lancashire.
Cheshire-based Portergate believes it will play a major role in reviving the area – as well as creating local employment in the building sector.
Councillors have given the go-ahead for the company to create 261 student bedrooms and modern retail units on Friargate. The accommodation, including six one-bedroom studios, will be in 62 clusters.
The apartments, scheduled to be opened for students in 2014-2015, will also be aimed at post-graduate students and apprentices working in the city’s high-tech manufacturing sector and its new Enterprise Zone.
Anthony Jackson, chairman of Portergate, said: “We will play a major role in transforming the fortunes of the Friargate area and this development will encourage further investment.
“We are creating high-quality boutique student accommodation in stylish, contemporary buildings, along with modern retail units that will give a fresh look to this part of Friagate.
“It’s something we know is welcomed by retailers on the street who are looking for improvements to the area.”
It is Portergate’s second student project in the North West – work is almost complete on its £7m Riverside development in Salford – and the company is looking to roll out its boutique student living concept across the region.
