Heaton gets £8.6m Preston grant
The developer can now crack on with plans to convert the former Park Hotel into a 92-bed aparthotel as well as constructing 239 build-to-rent flats in two new-build blocks on neighbouring land thanks to Homes England funding.
Heaton Group has secured an £8.6m grant for the Preston project, which overlooks Miller Park. The money is coming from the government’s £1bn Building Infrastructure and Land Fund and will help to plug a viability gap.
The building, once a hotel, has been vacant since 2011 when Lancashire County Council vacated the premises. Heaton Group plans to bring it back into use as a mixed-use scheme and secured planning approval for the project last year.
“The Park Hotel is a cornerstone of Preston’s heritage”, said John Heaton, managing director at The Heaton Group. “We’re proud to be delivering a scheme that combines regeneration, hospitality and housing.”
Duncan Inglis, director of MPP North at Homes England, added: “The transformation of the Park Hotel is an excellent example of how Homes England funding and close, cross-sector partnership working can drive forward regeneration and deliver new homes.
“By unlocking a long-vacant brownfield site in the heart of Preston, this investment will deliver 239 new Build to Rent homes alongside a revitalised apart-hotel business, enabling placemaking and economic growth in the city centre.”
Heaton Group was supported in its bid for funding by Preston City Council and Hive Land & Planning.
Nick Thompson, director at Hive Land & Planning, said: “This is a fantastic outcome for Preston and testament to the hard work and collaboration of key stakeholders.
We are very pleased that Homes England have endorsed the City Council’s regeneration vision with this substantial funding award.”
To find out more about the most recent plans for the site, search for application number 06/2023/0509 on Preston City Council’s planning portal.
DAY Architectural is the architect and Paul Butler Associates is advising on planning. Also on the project team is landscape architect DEP Landscape Architecture, transport consultant SK Transport, and noise consultant RED Acoustics.
