CANNON ST PRESTON

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. 

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The Property

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. 

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Investor Highlight: Cannon Streets excellent location and modern features, have helped investors secure a rental yield of up to 7.07%.

Why Did We Choose Preston ?

Preston is the 3rd largest city in the NorthWest, and with Real Estate 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 UCLAN (University of Central Lancashire) which is the North West’s 5thbiggest 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, creating a contemporary shared space for both pedestrians and vehicles. Preston has also seen a huge increase in graduate retention, with 37% of graduates staying in the area for work following graduation.

Prestons railway station is a major stop on the West Coast main line, and provides easy access to the North West of England and beyond. A trip to Liverpool will take you 50 minutes while you’ll be in Manchester in just 40 minutes.

Investor Highlight: Preston is one of the few UK cities to see increasing footfall and low vacancy rates.

Investor Returns

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 ready to deliver the returns our valued investors have sought.

Cannon Street - Development Diary

At The Heaton Group, our passion is identifying unused potential in current buildings and transforming them into luxury spaces the entire community can be proud of. When we saw this run down City Centre block it was clear that the building had a lot to offer.

The Development was completed within 8 months, during which time13 of the 14 apartments sold off plan to a mixture of buy to let investors and owner occupiers.

Following completion, investors took advantage of our expert property management team, who quickly identified and qualified suitable tenants.

 This meant it wasn't long before our investors began seeing a return from the property.

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Cannon Street provided great returns for our investors, all while helping to contribute to the regeneration going on in this fantastic city. The project was completed on time and budget and, takes its place as just one of the successful properties The Heaton Group regularly provide.

If you want to learn more about Cannon Street or any of our current investment opportunities, book a call to speak to a member of our team.