Theatre Street, Preston

THE SPIRE - development, Theatre Street, Preston PR1 8BS

Residential Development Opportunity

An exceptional opportunity to acquire a landmark city centre development site with full planning consent for 67 new homes, situated within one of Preston's most recognisable heritage settings.

The Theatre Street offers a rare chance to deliver a prestigious residential scheme centred around the retained chapel, creating a distinctive blend of heritage architecture and contemporary living.

Positioned in the heart of Preston city centre, the site enjoys an enviable location just moments from the city's primary retail and leisure amenities. Preston Railway Station is approximately five minutes' walk away, whilst the University of Central Lancashire (UCLan) campus can be reached within ten minutes, making the scheme ideally placed to appeal to owner-occupiers, professionals, students, and investors alike.

The approved scheme comprises the conversion and refurbishment of the retained Listed Chapel and Church Tower, forming an impressive architectural centrepiece, alongside 17 attractive new-build townhouses arranged around a newly created public square. A further block of 50 contemporary apartments provides a mix of one, two and three-bedroom accommodation set within landscaped surroundings.

The site is located adjacent to Fishergate Shopping Centre and benefits from close proximity to Winckley Square, Avenham Park and Miller Park. Furthermore, the development stands to benefit from the significant regeneration proposals associated with Preston's Station Quarter initiative.

Regeneration Plans

The site sits on the edge of one of Preston’s most significant regeneration zones, where the Station Quarter and Fishergate plans are set to transform the city centre around Preston railway station. The Station Quarter vision brings Grade A offices, high‑density homes and upgraded public realm, creating a stronger gateway and a more attractive place to live, work and visit. Current proposals for the Fishergate/Station Quarter area include five office buildings up to 15 storeys, delivering around 770,000 sq ft of Grade A workspace as the first phase of a wider redevelopment around Fishergate Shopping Centre and the station.

Key Features

• Landmark city centre development opportunity


• Planning consent for 67 residential units


• 17 new-build townhouses arranged around a new public square


• 50 apartments comprising a mix of one, two and three-bedroom homes


• Retained Listed Chapel and Church Tower creating a unique heritage focal point


• Prominent Preston city centre location


• Approximately 5 minutes' walk to Preston Railway Station


• Approximately 10 minutes' walk to UCLan campus


• Adjacent to Fishergate Shopping Centre


• Close to Winckley Square, Avenham Park and Miller Park


• Indicative Gross Development Value (GDV) of approximately £16m–£17m


• Positioned within an area benefiting from major regeneration investment


• Significant asset management and value-add potential through refurbishment of retained heritage buildings

Planning

Full planning permission has been granted for the residential redevelopment of the site.

Planning Reference: 06/2019/0952

Further Information

Detailed information packs, planning documentation and supporting reports are available upon request.

Tenure

Freehold

Size

1 Acres 

Offers 

offers are invited 

Viewings strictly by appointment only.

All interested parties are invited to contact the selling agents for further information.

Disclaimer:

These particulars, whilst believed to be correct, do not form any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements quoted are approximate. Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.

Anti-Money Laundering (AML) and Identity Verification Checks In accordance with our regulatory obligations, all applicants will be required to complete Anti-Money Laundering (AML) and Identity Verification checks. A non-refundable fee of £45.00 plus VAT per applicant will be payable to cover the cost of these checks. We use Vorensys to carry out these verification processes. Applicants will be contacted directly by Vorensys to provide the necessary information and documentation. Once the checks have been successfully completed and approved, we will be notified and will proceed with the application accordingly. Please note that the AML and Identity Verification fee is non-refundable, regardless of the outcome of the application or verification process.