Preston reveals multi-billion investment plan to Preston businesses

• Preston 35 created by newly formed Preston Regeneration Board (PRB)
• Plan to focus on six strategic areas including new Grade A office Station Quarter
• Plan revealed at Preston Partnership business networking event

The newly formed Preston Regeneration Board (PRB) has unveiled Preston 35, a new regeneration plan for Preston, projected to secure significant further investment across the city by 2035.

Preston 35 was revealed to city business leaders at an event run by Preston Partnership, a private-sector led business networking group with over 200 members, working in partnership with the public sector to help shape the future of Preston.

This follows in the wake of a successful launch to industry peers at the UK REiiF conference held in Leeds, in May, the UK's largest real estate, investment and infrastructure forum with a delegation of over 13,000 eager to find the next UK hotspot for unlocking investment, regeneration and development.

The PRB includes senior representatives from Preston City Council, Lancashire County Council, University of Central Lancashire (UCLan) and Preston Partnership.

As the third biggest city in the North West, over £1bn of investment has already been delivered or committed in the city, ranking 'The Best City for Quality of Life'¹ and the 'Top UK City 2023 to Raise a Family.'² Preston 35 is championing the city as an attractive place to do business and highlights six strategic, priority regeneration prospects that the city is driving forward over the next 11 years.

Adrian Phillips, Chief Executive of Preston City Council, outlined the PRB's vision, priorities and objectives at the Preston Partnership event on July 25, hosted at the recently opened OneCoWork offices on Winckley Square, Preston.

Adrian said:

"2035 provides us with a natural and realistic focus, that takes in the next Guild celebrations in 2032, to make some significant progress, take stock of how far we have come, and evaluate what still needs to be done.

"The city's investment plan is always evolving and this new reiteration - Preston 35 - defines what we have already collectively achieved over the past decade, but more importantly, it focuses on what's next and how much more we can achieve by working together.
 

"The key to successful place making and attracting significant inward investment for the city, that's both meaningful and provides a lasting legacy for the people of Preston, is collaboration across public and private sectors, pooling our resources and working together with shared goals and objectives."

John Chesworth, chair of Preston Partnership, said:

"This exciting plan is partnership in action. The key Preston regeneration stakeholders leading the regeneration of Preston over the next decade have agreed key priorities and identified those projects which will contribute to their delivery. 
 

"Prestonians want to see ambition for our city, and Preston 35 sets out a positive direction of travel. These projects will bring jobs, visitors and residents back into the city, and be a catalyst for further investment. I see this as a foundation from which we can kick on to bigger and better things."

Some of the key regeneration propositions include:

• Preston Station East Phase 1 - a priority of the Station Quarter Masterplan to provide Grade A office space and deliver a landmark commercial-led, mixed-use development scheme.
• Harris Quarter Phase 2 - An opportunity to develop a thriving cultural, leisure and conference quarter, anchored by the redevelopment of the Guild Hall.
• Stoneygate Phase 2 - A focus on sites that can deliver new city centre residential, business and educational uses. An Urban Village Regeneration Area of 25 hectares.
• Innovate Preston - Positioning Preston at the heart of an innovation eco-system and a natural location for the National Cyber Facility supply chain.
• Preston Community Health Hub - An integrated 'one-stop-shop' of customer-facing health and wellbeing services as part of a wider drive to move services and interventions closer to the community.
• Access Preston - Cottam Parkway, a £35m new railway station on the Blackpool to Preston line, providing sustainable transport options to almost 10,000 new homes.

Wider projects in the pipeline include Preston Station Quarter future phases which include a masterplan for County Hill and University Walk, future phases on Stoneygate, Preston Riversway Docklands regeneration and a third River Ribble crossing.

Further information

• The Best City for Quality of Life' The Times, Sunday Times, PwC, Centre for Cities 2020 - 2022
• Top UK City 2023 to Raise a Family' Money Supermarket Group Research
• The Preston Regeneration Board is a strategic and innovative collaboration between Lancashire County Council, Preston City Council, University of Central Lancashire and Preston Partnership.
• For more information on key projects taking place across the city see key projects, strategies and plans.