This is how the corner of Corporation Street and Ringway could look within the next five to 15 years.

Proposals for a £100million landmark office development have been unveiled.

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Altus would sit where the current Office Outlet, former Wynsors shoes store and Hill Street car park are.

Parker and Co, agents for the site, say it would be a crucial building for Preston’s future.

A statement from the firm said: “Altus is strategically located between the mainline railway station and the University of Central Lancashire campus, adjacent to the prime shops and all other city centre facilities.

“It’s a grade A landmark office building with retail and leisure options at ground floor level.

“An architectural masterpiece – its stature and size will have an awesome impact in a very important position within the city centre.

“Altus has the full support of Preston City Council and Lancashire County Council.”

The building would have eight floors and 178 car parking spaces.

No timescale has been set for the development but the firm says it will be ‘developed in response to market demand. As soon as agreement has been reached for a reasonable proportion of the accommodation the development process will commence.”

Read more: A 10-point plan for Preston in 2017

The developers say they are hoping Preston’s cheaper office rental prices and cheaper wages – than nearby neighbours Manchester and Liverpool – will drive interest.

Altus is due to be one of the key developments in the City Living Strategy – unveiled in early May – showing how the area between the railway station along with other key areas of the city centre would be redeveloped.

How developers have reacted

Director of Etc Urban Developments, Neil Thornton, who are redeveloping a former warehouse in the city centre into luxury apartments said : “Preston needs new grade A office space to compete on a regional level and to be relevant in the Northern Powerhouse.

“Good quality offices will attract people who want to live in Preston city centre where we are at the forefront of providing the kind of city living accommodation professionals want to buy and rent.

“If tenants can be found for this scheme it will signify that Preston can attract blue chip companies and will lead to further speculative commercial and residential development.

“There are a lot of opportunities to regenerate our city centre and we need to see new places for new residents to live and play as well as work.

“High spec offices will also help Preston retain its graduate population, which is a major driver of city living culture in UK cities.”

Director of Easthams & Co, who do residential lettings in Preston, Matt Eastham said: “A well designed Grade A office development like Altus is crucial to the regeneration of Preston but needs to happen in the next 2 to 3 years not the 5 -15 years mentioned, if The City Living Plan is to be truly successful.

“It’s young professionals coming to work in the city centre that drive the changes and the demand for new restaurants, bars, shops, cinemas etc. It is also these young professionals we desperately need to fill the hundreds of new apartments planned for the centre as without them these will be taken over by international students as seen with the majority of existing residential developments in the City, leaving Preston feeling like a giant university campus rather than the buzzing metropolis were all hoping for.

“I think someone needs to take a bit of a gamble and build this on a speculative basis as I’m confident there are companies out there who would take the leap.”

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What does Altus mean?

Altus is a Latin adjective meaning high, deep, noble or profound.

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