Description
Featuring 200 high-spec apartments, The Exchange by The Heaton Group should be on your investment radar. Situated in a prime Preston location, this up and coming development has a three street frontage. It is walking distance to a number of amenities, including shopping and dining options. Commuting is easy. Besides being able to walk the local area, the Preston Bus Station is just 4 minutes away, providing connections both local and further afield. Additionally, the Preston train station is accessible, providing links to Manchester, Liverpool and London, as well as destinations to the north.
The Exchange Facilities
The Exchange, Preston is set to be a city leading project, setting the new standard in quality living. Its facilities should also help investors achieve decent returns, 7% expected, as per the developer’s brochure.
Residents will be greeted by a concierge and they’ll be able to enjoy a landscaped rooftop area. Further to that, there’s a state of the art gym on hand, along with residents lounge and cycle store.
The apartments themselves are well equipped and will be delivered move-in ready.
Why Consider Investing in Preston?
Preston is a city on the move. The local government is investing heavily in this growing location that is close by larger growing hubs, such as Manchester. Additionally, there are billions of pounds worth of private investment also heading to Preston and surrounding areas. There are 10s of thousands of new jobs being created. In turn, this is creating demand for new homes and putting upward pressure on rents. According Zoopla, rents in Preston increased by 4%, close to double the national average.
The 2013 Preston, South Ribble and Lancashire City Deal ensures continued investment in the region. Now, Preston is starting to see the city transform. The Infrastructure Delivery Programme is increasing connectivity and private development is also helping to rejuvenate Preston. Considerable care is being taken to protect and restore Preston of the past whilst bringing all the conveniences of today and the future to current and future residents.
Preston has a strong university student population, thanks to the University of Central Lancashire (UCLAN). It is the fifth largest university in the UK, based on undergraduate intake. Many of the 30,000 students in Preston choose to stay after graduation, further boosting the housing and job markets, along with adding to the diversity of the region.
The Exchange, Preston FAQs
Who is the developer of The Exchange?
The Developer of The Exchange is The Heaton Group, an experienced Preston developer.
How many apartments does The Exchange development have?
The Exchange features 200 1, 2 and 3 bedroom apartments, along with a range of resident facilities, including rooftop garden and hotel style concierge services.
What transport is Available at The Exchange?
The Exchange has a number of transport options, including local and regional bus routes from the Preston Bus Station – just 4 mins away. Also within close proximity is the Preston Train station. And for those driving, the M6, M61, M65 and M55 are all easily accessible to Preston.
How long is the leasehold term at The Exchange?
The leasehold term at The Exchange is 250 years. The ground rent is charged at 0.1% of the purchase price per year. Additionally, the service charge is estimated to be £1.50 / SQFT.
When is the completion date for The Exchange?
The completion date for The Exchange is scheduled for Q3 2022.
What are the prices for apartments in The Exchange, Preston?
The prices for apartments at The Exchange start at:
- 1 bed – £125,000
- 2 bed – £197,894
- 3 bed – £230,025
