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Family-run developers acquire two major residential schemes in Preston City Centre

Posted on - 25th October, 2023 - 7:00am | Author - | Posted in - Business, Housing, Preston City Centre, Preston News, Redevelopment
How Urban Village could look as part of the Stoneygate Masterplan Pic: Planning documents
How Urban Village could look as part of the Stoneygate Masterplan Pic: Planning documents

A family-run developers has acquired two major residential schemes in Preston City Centre.

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Belgravia acquired Stoneygate Central at the former Dryden Mill site for £6.3m, and Lofthaus on the corner of Patten Street and Great Shaw Street for an initial £1.7m.

A wholly family led company, Belgravia is spearheaded by three directors aged 35 and under, with the company investing heavily across several schemes in the North West.

With construction expected to start early in 2024, Belgravia have partnered on both projects with Zerum for cost and project management, David Cox Architects for lead design, Orlando Reid for sales and marketing, and Hill Dickinson for legals.

Stoneygate Central

An Urban Village kitchen
An Urban Village kitchen

Stoneygate Central, now named Urban Village, was acquired from Stoneygate Living.

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The £120 million site will be Belgravia’s flagship scheme, marketed under their Urban Collection.

With planning permission to deliver 469 apartments, Urban Village forms part of Preston City Council’s 15-year Stoneygate Masterplan, which aims to deliver 1,600 new homes in total.

The scheme features one and two bedroom apartments, with outdoor spaces incorporating multiple roof terraces, landscaped gardens and a central courtyard to encourage interaction between residents.

Amenity spaces include a gym and wellness facility, resident lounge areas and on-site food and beverage offering, designed to create a community atmosphere.

The project also has 8,000 sq ft of commercial space across three ground floor units.

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Read more: First stage of Stoneygate redevelopment approved with Dryden Mill

Lofthaus

Lofthaus will be Preston’s tallest building Pic: Planning documents

Belgravia has acquired the £45m Lofthaus site – set to house Preston’s tallest residential high-rise- from A.S.S.H Investments.

With recently approved planning permission for 287 apartments across 21 storeys, Lofthaus is designed to meet a growing demand for co-living accommodation within the city.

Lofthaus will be marketed under Belgravia’s Contemporary Collection.

Lofthaus bedroom
A Lofthaus bedroom Pic: Planning documents

The co-living model offers future generations a home to live, work and play, set within a like-minded community, allowing residents to access amenities that they would otherwise be unable to experience.

Communal amenities at Lofthaus are set to include co-working spaces, a luxury residents’ library, cinema and games room, spa and wellness facilities, communal lounges, laundry facilities, landscaped rooftop garden, and a ‘mega kitchen’ where residents can cook, dine and socialise together.

What Belgravia say

On Urban Village, Head of Family Christopher Howell said: “We are delighted to have concluded on such a prestigious scheme and we would like to thank the whole team for their commitment over the past 12 months. It represents a major investment into Preston, and demonstrates our trust in the potential of this amazing city.

“As a family, we are determined to support the city into the next stage of its continued growth by delivering fantastic communities, attracting and retaining alumni, and showcasing Preston on the global stage.”

Speaking about Lofthaus, Christopher added: “We believe this amazing city, that’s built on pioneers of industry, can spearhead the growing demand for luxury co-living communities that showcase what it means to be proud of your community.”

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