Preston council appoints Cushman & Wakefield as city centre strategy partner

Preston City Council has appointed real estate firm Cushman & Wakefield as its partners to prepare a City Centre Living Strategy to support and accelerate the delivery of a thriving residential core in Preston City Centre. The Strategy will support the delivery of the Preston Housing Zone (PHZ), which already has more than 800 units allocated in the area and is a fundamental element to meet the ambitions for growth of the Preston, South Ribble and Lancashire City Deal.

[caption id="attachment_70827" align="f-align-medium-right f-align-center" width="176"] Partner: Cushman & Wakefield will assist Preston City Council with the delivery of the city centre strategy[/caption]

The establishment of the Preston Housing Zone and the City Centre Strategy signal Preston’s intent to work with developers and investors to deliver a step change in the residential offer within the City. The Strategy will promote the City Centre, and specifically the identified Housing Zone sites, as a key location for new residential development.

It will set a framework for development which seeks to meet broader place-making aspirations and will address key issues including identifying opportunities to promote and develop the private rented sector (PRS)/Build to Rent (BtR) markets in the City Centre, student accommodation as well as homes for sale.

Leader of Preston City Council Peter Rankin said: “This is a key appointment and critical to our plans for the future development of Preston City Centre.  It’s about making it as easy as possible for investors and developers to invest.  About marketing the City and making it clear that Preston is a fantastic location to live and work.  That now’s the time to invest in Preston.  The opportunity is there, the infrastructure is there and the will to make it happen is there from all partners and the local business community too.  We are delighted to be working with Cushman & Wakefield and look forward to making progress.” Caroline Baker, Director of Development Consulting at Cushman & Wakefield, added: “We are really excited to be using the expertise we have gained over the last 10 years advising public sector partners in Manchester City, including Manchester Life, Manchester Place and Manchester City Council, to support Preston to transform its residential offer. Preston has a number of key attributes to support city living and we look forward to articulating this to private sector investors and developers.”