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What is Off-Plan Property?
Investing into a property development before it’s fully built is what off-plan property investment is all about. Often, the property is still in the planning stage or is already being built. It’s a great way for buyers to get a house at a lower price and then ride the wave of rising values as the building is finished.
Imagine buying an apartment in a trendy, growing area like Preston before everyone catches on. By the time the building’s up and buzzing with residents, the property’s value has likely gone up, and you’ve got a real head start on your investment.
One of the biggest perks? Customisation and choice. Since off-plan buyers are in at the beginning, they often have first dibs on the best units (those on upper floors with city views or larger layouts). And then there’s the option to personalise finishes to appeal to the target market, like young professionals or students in the area.
It’s about investing early to maximise return, and in a city like Preston, with its booming university scene and Preston city centre just minutes from Preston railway station, the demand for quality rentals is high.
Of course, off-plan investments aren’t without risks. Since you’re buying based on a plan and a promise, it’s crucial to choose a developer with a strong track record and do your due diligence. Look into the development’s status, ask for detailed information on timelines, and ensure you’re aware of the payment structure.
These properties can offer fantastic net returns over time, especially when planned strategically, but it’s all about knowing the process and trusting your investment partner.
Variety of Property Types
- Preston
Deposit
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Yield
Property Price
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Why Invest in Off-Plan Preston?
Preston’s undergoing an incredible transformation right now. With huge regeneration projects happening in Preston city centre and around Preston railway station, this city is fast becoming a hotspot for savvy investors.
Real estate investors have been interested in the North West, especially Preston, Lancashire, for a while now because of its mix of low house prices and good growth prospects. If you buy here before they go on sale, you can get in on projects that are often in great locations and will see a lot of capital growth in the near future.
And in Preston, with a high population of university students and young renters, demand for ideally located apartments is solid. Whether it’s students wanting proximity to classes or professionals working nearby, an off-plan buy here means investing in a market where occupancy rates remain steady and returns look bright.
Reasons to Invest in Preston
Strong Rental Demand
Preston’s rental market is growing quickly because of its diverse population, which includes college students and young workers looking for apartments close to the Preston city centre.
Every year, thousands of students come to the University of Central Lancashire, which means that rental homes will always be in demand. This steady flow of renters means that there are fewer empty units and owners can count on steady rental income.
The city’s good location and good transport options, like the railway station in Preston, which brings people to bigger cities like Manchester, also help the local rental market.
Young working professionals who like to rent in lively, well-connected places will like this connectivity. This high desire for rental homes, especially in city centre developments, is good for investors.
Affordable Property Prices
Compared to other parts of the North West, Preston offers remarkably affordable property prices, making it an ideal entry point for new and seasoned investors alike. According to the Office for National Statistics, the average house price in Preston was £169,000 in August 2024, up 4.7% from August 2023.
Source: ONS
This affordability not only means lower upfront costs but also opens up the potential for better net returns. With lower purchase costs and competitive rental income, investors can make a lot of money without taking on too much debt.
If you want to build a buy-to-let portfolio, Preston lets you buy more than one investment property with the same cash. Also, the city’s ongoing developments suggest that home prices are likely to rise, which means that investors will be able to make a lot of money over the next few years.
Regeneration and Development Projects
Preston is undergoing a wave of regeneration that’s putting it firmly on the map for property investors. Significant investments are being used to improve Preston’s city centre, offering new opportunities in housing, retail, and entertainment, which are projected to attract even more residents and visitors.
Projects such as the Stoneygate regeneration plan, covering approximately 38 hectares are altering the city to encourage expansion. This plan includes the creation of around 1,600 new homes and the restoration of derelict buildings like the former Horrocks Mill.
These developments provide more than simply additional facilities; they also stimulate long-term economic growth and increase property values. Off-plan buildings are well-positioned to gain from this shift, particularly if they include features such as hotel-style concierge services and facilities that appeal to modern tenants.
As Preston becomes an even more attractive place to live and work, demand for well-located accommodation rises, driving up house prices and rents. Investing in Preston now means getting ahead of a market that’s only going to get hotter, thanks to these regeneration and off-plan development projects.
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Some Expert-Recommended Off-Plan Properties For Your Investment around Preston
Trafford Gardens
Trafford Gardens is just about 35 miles from Preston and is designed to meet the needs of young workers living in the city. With 116 thoughtfully designed apartments, this building offers renters a modern, cosy lifestyle within walking distance to important cultural and financial areas. Trafford Gardens makes sense off-plan for investors. Tenants seeking a modern flat with easy access to the city will be lured to it.
£1,300 pcm
250 Years
10 Years
Q3 2025
Key Project Highlights:
- Preston is 30 minutes away, making the property ideal for local investors.
- Luxurious one-, two-, and three-bedroom apartments are available.
- Its high-growth location improves long-term property investment value.
- Living 300 metres from the Trafford Bar tram stop, homeowners can reach the city centre and beyond.
- Close to Old Trafford Stadium (1 mile) and MediaCityUK (0.7 miles), popular among professionals and students alike.
With its central location and excellent connectivity, Trafford Gardens is positioned to benefit from Manchester’s growth, making it a sound choice for investors from Preston looking to expand their portfolios with high-yield properties.
Each of these Preston off-plan investments has unique perks. These developments allow investors to take advantage of Manchester and Liverpool’s strong demand, rising property values, and high rental returns while enjoying Preston’s affordability and connectivity.
Berkeley Square
Berkeley Square offers modern flats just a short 35 miles from Preston, making it an attractive choice for investors targeting the bustling nearby Manchester market while benefiting from Preston’s affordability.
This stylish off-plan development is perfectly suited for professionals, and students seeking urban living with a touch of elegance. The property’s prime location, close to major attractions, cultural centres, and transport links, makes it ideal for short-term rentals aimed at Manchester’s ever-growing population.
£1,065 pcm
250 Years
25%
Q2 - Q4 2026
Key Project Highlights:
- Positioned near key cultural and business hubs, making it appealing to high-demand renters.
- Close proximity to Deansgate, Manchester Piccadilly, and shopping districts ensures excellent rental potential.
- Located 1 mile from Deansgate, 0.8 miles from Manchester Art Gallery, and 0.5 miles from the Spinningfields business district, a vibrant area for young professionals.
For investors focused on high occupancy rates and net returns, Berkeley Square provides a great chance to serve Manchester’s active market while remaining easily accessible to Preston.
Sovereign Point
Sovereign Point is a luxurious waterfront development, about 30 minutes from Preston, ideal for those looking to invest in Liverpool’s booming property scene.
Located along the River Mersey, Sovereign Point attracts a diverse tenant base, from professionals to sports fans drawn to Liverpool’s energetic culture and lifestyle. This project has 155 high-end apartments and a focus on community-driven living, making it a great choice for renters who want a getaway but still want to be close to all the benefits of the city.
£839 pcm
999 Years
10%
Q3 2025
Key Project Highlights:
- Located just 30 minutes from Lancashire, this property is well-suited for Preston-based investors.
- Apartments with river views and beautifully landscaped gardens, add to the project’s appeal.
- Studio, one-bedroom, and two-bedroom apartments with top-tier finishes, appealing to a wide range of renters.
- Landscaped communal areas provide a serene environment, perfect for those seeking a break from city life.
Liverpool attractions such as Albert Dock (1 mile walking distance) and the new Everton Stadium (1.2 miles away) draw both professionals and sports enthusiasts. Sovereign Point, with its waterfront views and excellent amenities, presents an appealing off-plan investment option that capitalises on Liverpool’s attraction while giving easy access for Preston-based investors.
How is the Preston Rental Market?
Tenant Demographics and Demand
One thing I’ve noticed about Preston’s buy-to-let market is how diverse the tenant base is—it’s not just students but also young professionals and even families looking for affordable, well-connected living options. Preston is home to over 30,000 students at the University of Central Lancashire (UCLan), making student rentals a steady bet. But students are only part of the story.
Professionals have been flocking to Preston for the jobs and lifestyle, seeking rentals in spots close to the city centre or near Preston railway station for those easy commutes to Manchester or Liverpool. Families, too, are drawn to Preston’s balance of affordable living and good local amenities, all of which keep the demand for rentals high and varied.
Having tenants from all walks of life is a major plus for investors. With Preston’s convenient transport links and emerging growth in retail, leisure, and housing, there’s strong demand across the board, ensuring that ideally rental properties rarely sit empty for long.
Current Rental Yields and Growth Trends
Preston’s rental yields are a big draw for anyone looking to invest in the North West. For buy-to-let investors, it’s hard not to notice that rental yields here generally range from 5% to 7%, especially for well-placed apartments.
Properties near the university or those close to Preston train station see some of the strongest demand and often push toward the higher end of the yield range, which isn’t always easy to find in more expensive cities.
On top of the good yields, property values in Preston are climbing. According to the UK House Price Index, Preston’s home values increased by 4.7% in the last 12 months. This suggests steady capital growth. Strong rental income right now and steadily rising property values make this the ideal time for investors.
Future Rental Potential
Preston’s rental market appears to be promising because of a few important factors. The rebuilding projects that are still going on are one of the big ones. Projects like the £50 million Stoneygate regeneration plan are changing parts of Preston’s city centre by adding new places to live, shop, and play.
Proximity to transport hubs, especially around Preston railway station, means easy commuting, which boosts demand from those wanting to live affordably while accessing bigger job markets nearby.
And it’s not just about the developments; Preston’s job market is expanding too, especially in education, healthcare, and retail. Since more people are coming to Preston for work, the need for rentals will continue to rise for a while.
Capital growth looks good, and Preston is set to be a rental market to watch in the coming years because it offers a good mix of cheap living and easy access to big cities.
Tenants will want to rent and rents will go up, especially in places that are getting upgrades and new buildings. People who want to buy now have a chance to get a place in a city where property prices and demand are both going up.