The Exchange apartment block given approval to tower over Preston city centre

Outside rooftop area. Pic: Heaton Group.

The planning application to build 200 apartments in the former Bhailok Court building in Pole Street has been approved.

The new development, which will be called The Exchange will include a variety of one, two and three bedroom apartments.

It was approved with conditions during a council meeting on Tuesday (2nd March) where ten were for the building and one abstained.

However, there were questions when it came to discussing the lack of affordable housing.

Robert Major, who presented the application said: “We’ve got to understand that the build cost for these developments are significantly high.

“It is difficult to provide affordable housing on these city centre brown field sites.

“In terms of what they’re providing they may be not be affordable in terms of there might not be any help to buy them, but it may be that the price of them being one bedroom or two bedroom flats they may be affordable for people who are on the affordable register to buy themselves.”

In the plans by the Heaton Group, the original plans stated that there would be 109 one-bedroom apartments and 67 two-bedroom apartments.

But, the latest plans for the Pole Street development show that there will be 137 one-bedroom flats, 40 two-bedroom and 23 three-bedroom.

A spokesperson for the Heaton Group said: “This is our fifth residential scheme we’ll be bringing to Preston and [the] decision will allow us to transform the former Bhailok building into The Exchange and bring 200 much needed stylish and contemporary apartments to the city. As well as offering one, two and three bedroom luxury apartments, The Exchange will feature a large communal residents lounge, shared working space, a gym, a landscaped courtyard, roof garden and terrace for residents to enjoy, as well as retail units to the ground floor.

“Forming part of the Stoneygate Masterplan, the design of the building compliments others in the area with a modern design that features dark grey and bronze exterior to ensure The Exchange is contemporary, yet timeless. We’re proud to be investing further into the city and look forward to sharing more about our plans over the coming months.”

The development will be between seven to 16 storeys high with four offices on the ground floor.

The seventh floor will include an outdoor roof terrace for communal use.

At ground floor, a communal resident’s lounge would be provided, gym, alongside a refuse storage area, bicycle storage, and plant room, with a communal outdoor amenity space.

The main part of the building will be seven storeys, with two towers with one between seven and 14 storeys high, and the other between seven and 16 storeys.

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