Leading Preston-based Property Consultants Robert Pinkus & Co recently commented their last financial quarter was the busiest for several years.
The market has shown a surge into 2014 with a 40% increase in enquiries in the first two weeks of the year compared to the start of 2013.
One area that has seen significant interest in Preston is property based around Winckley Square. Since the announcement that the Winckley Square Futures regeneration project gained funding from the Heritage Lottery Fund the firm reports they have had 10 new enquiries for five properties currently on the market in the area.
Preston is littered with empty properties awaiting take-up. The recent increase in confidence in the way the economy is moving and the green light for the restoration of Winckley Square is helping increase business investment and planning activity in the centre of the city.
The knock-on effect will drive forward the commercial market in the city and renew interest in existing property stock.
Robert Pinkus & Co admit confidence is starting to return to the market leading to an increase in enquiries from companies who held back selling their property. It seems the good start to the year is tempting them to put their property on the market. Pinkus see this as essential as the market needs new property stock to meet growing demand.
Danny Pinkus continued, “Whilst we don’t want to get carried away, we hope that the signs of recovery continue in 2014 and that further supply of properties will come to the market to meet the demand that exists.”
Robert Pinkus & Company, who have offices at the Riversway Business Village in Preston, are a leading independent firm of Chartered Surveyors and Commercial Property Consultants, operating throughout the North West of England.
The Winckley Square Community Interest Company (WSCIC) was formed in 2011 as an independent company to drive the restoration of the Square. An application for funding was put together by Groundwork in partnership with WSCIC and Preston City Council. It received initial support from the Heritage Lottery Fund and the Big Lottery Fund.
WSCIC and Preston City Council are developing the proposals over the coming months involving a further public consultation. The project, currently estimated to cost £1million, will move to stage two submission in August 2014.