A former Grade II listed orphanage and university site has been put on the market – with a rumoured £10m price tag.

Harris Park, Fulwood, is currently owned by Preston multi-millionaire Yusef Bhailok, and has planning permission for extensive development.

But following an in depth investigation into the condition of the site – which was gifted to the city in 1877 by philanthropist Edmund Robert Harris – the 6.2 hectare site on Garstang Road, Fulwood, is up for sale.

Read more: Fulwood’s conservation area status up for renewal

Marketing material from Cushman and Wakefield, states: “Unique opportunity to purchase a fantastic Grade II listed estate for residential regeneration and residential development land, located in the affluent area of Fulwood.”

In 1877 Edmund Robert Harris, a wealthy lawyer from Preston, left £300,000 to the city to set up a philanthropic trust in memory of the Harris family.

Harris legacy included what is now the UCLan building in Corporation Street Pic: Paul Melling

Harris Park Orphanage was built as part of the donation – which also included the Harris Library and the Harris Institute of  Literature, Art, Science and Technical Education (now Uclan).

Harris Orphanage operated s a children’s home until 1985 when it was bought by Preston Polytechnic to use as student accommodation.

In 2006 the site was sold privately to Mr Bhailok sparking concerns over the future of the conservation area.

Plans for the site could include construction of 65 new homes on the cricket field and renovation of the existing listed buildings on the site.

However Cushman and Wakefield states: “Site suitable for a number of uses subject to planning. We are seeking both conditional and unconditional offers on a freehold basis.”

The announcement is the latest in a number of developments in the Fulwood Conservation Area.

Last week plans were unveiled for a new mega-doctors surgery on the Little Sisters of the Poor site, across the road from the Harris Knowledge Park.