Loan Secured for Lincoln Student Accommodation
27th Jan 2023
Plans have been submitted to Preston City Council proposing the demolition of existing building and structures, and replacing them with a 9 and 7 storey building comprising of 227 studios for student accommodation.
The site is located on Lawson Street, close to the main UCLan campus. The land is adjacent to the former Preston Divisional Police Headquarters. Immediately adjacent to the site lies existing student accommodation, Lawson Halls, which has rooms and apartments ranging in price from £72 to £130 per week including utilities.
The site is ideally located for access to UCLan, being just a one-minute walk to the Trinity Student Village. It is also well positioned to take advantage of other city facilities, as it lies within a five-minute walk to a number of bus stops offering key routes across the city and Preston Rail Station is located within a 10-minute walk. There are also a number of other amenities such as convenience stores, gyms and community facilities all located within a ten-minute walk.
Plans were submitted by Caro Developments Ltd, a property development company based in Liverpool with a strong record for delivering high-quality residential and student buildings. The scheme is estimated to cost £22m.
The application states that: "the development will bring a underutilised site back into active use and deliver high-quality student accommodation in a sustainable location."
The accommodation will total 227 studios, 16 of which are classed as accessible. The building will be 7-storeys and increase to 9-storeys.
Plans outline many amenities to be included in the residence, including a gym, study zone, games room, lobby, laundry room, cycle storage for 114 bikes, and cinema. There is also a roof terrace in the proposal, positioned on the southern most massing, taking advantage of the unblocked southern sun for the use of residents.
Neil Carlyle, Managing Director of Caro Developments Ltd, said: "Preston's student market has evolved since the pandemic and expectations have risen,
"Students have a more holistic view of how they want their home to contribute to their study and leisure time, as well as to their health and wellbeing. Our proposals address these needs directly."
Carlyle added that "there is lots of momentum behind Preston" and that he is "pleased to be in the city."
"Preston is flying at the moment," he said. "Heaton Group's latest tower scheme has topped out, the former indoor market site is going through the gears and the Station Quarter will deliver a modern central office district that will attract quality occupiers to the city. It's a good time to invest here."
27th Jan 2023
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