Developer the Heaton Group has started building its 16-storey, 200-apartment residential scheme in the city centre that gained planning approval last month.
The Exchange will sit on the site of the now-demolished job centre at Bhailok Court on Pole Street, Preston – part of the town’s Stoneygate regeneration masterplan – and be stepped in height from seven to 16 storeys.
The block is to include 200 one-, two- and three-bedroom apartments, as well as four office units totalling 3,000 sq ft on the ground floors.
Apartments are planned to have floor areas ranging from 400 sq ft to 800 sq ft, and the building will also feature a concierge, communal lounge, shared working space, gym, landscaped courtyard, roof garden and terrace.
The scheme is designed to offer an “alternative space to work from home and encourage a healthy work life balance with working spots away from the living space”, the developer said. It is building the scheme itself through its in-house construction function.
The Exchange is scheduled to open in April 2023 and apartments are being sold through Heaton Group’s sales agent Alliance Investments.
The group has developed four other residential schemes in Preston, including Bishopsgate Gardens, a 130-apartment scheme in the city centre due to open this 2021. There are a further three schemes under construction in Greater Manchester.
Michael Cooper, managing director of the Heaton Group, said: “It’s great to be on site with our fifth residential scheme in Preston and bring much-needed and considered accommodation to the city.”
Ronnie Garrett, managing director of Alliance, added: “The standard of accommodation and amenities provided in The Exchange is perfectly suited to the growing young professional market in Preston, and is already proving to be incredibly popular with buyers.
“The Exchange caters for the future of Preston, delivering a new level of quality to the city and seamlessly aligning with the city’s masterplan.”