THE SORTING OFFICE

Situated in the heart of one of the North’s most upcoming cities, The Heaton Group are proud to have saved this Grade 2-listed Royal Mail Sorting Office, developing it into 31 luxury apartments. This Preston City Centre development is ideally located to take advantage of the influx of young professionals into the area. Completed in August 2019 this development boasts a fantastic communal roof top terrace and private balconies to a number of apartments. Lettings demand has been overwhelming, taking just 3 weeks for the site to be fully occupied along side the 6 units that were sold to owner occupiers.

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The Property

The Sorting Office offers a selection of 1, 2 and 3 bedroomed apartments.

The development also incorporates the Cities first communal rooftop garden along with secure remote access parking,  providing designated parking space's for each apartment.

Each apartment makes full use of the latest residential technology, including state-of-the-art eco-friendly heating systems and proximity access within the building itself.

ANPR technology is installed on the secure car park enabling tenants to access the site either with remote fobs or by the system simply recognising their registration plate.

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Investor Highlight: The Sorting Offices's excellent location and luxury features, such as secure parking, have helped investors secure a rental yield of up to 7.25%.

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

The Sorting Office, proved a resounding success with the rental market, with the development fully tenanted within 3 weeks of completion. The site is now set up and running ready to deliver the returns our valued investors have sought.

The Sorting Office - Development Diary

At The Heaton Group, our passion is identifying unused buildings and transforming them into luxury spaces the entire community can be proud of. So, when we came across this vacant, grade 2 listed building, we knew we had to save it.

The Development was completed within 24 months, during which time all the 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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The Sorting Office 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 The Sorting Office or any of our current investment opportunities, book a call to speak to a member of our team.