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Investors can tap into local life whilst enjoying the urban benefits of Preston’s rapidly growing infrastructure. Preston offers a range of accommodation options, from compact studios to spacious multi-bedroom apartments.
Top Serviced Apartments in Preston for Investment
Preston's Guildhall Gardens
Perfect for investors in serviced flats, Guildhall Gardens is situated in Preston’s famous Winckley Square Conservation District. Many of there houses are located in beautifully restored listed buildings.
Short-term tenants, business visitors and couples discovering Lancashire’s rich culture will find this development intriguing as it mixes classic beauty with contemporary conveniences.
Key Property Highlights
£766 pcm
20%
Q3 2023
£2,500
- Prime location in Winckley Square, a sought-after area for both tourists and professionals.
- Comprises 32 one-bedroom and 3 two-bedroom apartments with contemporary interiors.
- Popular sites for both residents and visitors, walking distance to UCLan, Market Hall, and Fishergate Shopping Centre.
- Located conveniently for travellers 0.5 miles from Preston Train Station.
- Growing demand for luxury serviced residences brought on by Preston’s economic development and revitalisation.
Angel Gardens
For serviced apartment investors looking for sustainable homes, Liverpool’s environmentally friendly Angel Gardens presents an attractive investment choice 30 minutes from Preston. Designed for young professionals and students that give green living top priority, it meets the rising need for environmentally friendly lodging.
Key Property Highlights
10% NET
£1,540 pcm
Q4 2026
£5,000
- Environmentally friendly architecture with green rooftops and energy-efficient technologies.
- Each with own balconies, spacious one- and two-bedroom flats.
- Close proximity to Liverpool Waters, Knowledge Quarter, and Project Jennifer sites—high traffic locations perfect for short-term visits.
- Just 0.7 miles from Liverpool Lime Street Station, this provides easy access for guests.
Berkeley Square
Berkeley Square is about 35 miles from the centre of Preston. It is built to meet the needs of a busy metropolitan area. Its closeness to major business and cultural hubs makes it perfect for serviced apartment investors who want to rent out apartments for short periods of time.
Key Property Highlights
£1,065 pcm
25%
Q2 - Q4 2026
£5,000
- High-quality finishes with spacious layouts and a communal lounge area for socializing.
- Proximity to Manchester’s Deansgate and Piccadilly, key business districts.
- Demand is fueled by Manchester’s job market and large visitor base.
- Positioned near Manchester Art Gallery, Deansgate, and Spinningfields, appealing to tourists and business travellers.
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Sovereign Point
Investors wishing to provide serviced apartments with premium amenities and river views would find an ideal fit at Liverpool’s luxury waterfront development, Sovereign Point. Ideal for short-term lodging, this property, 30 minutes from Preston, is targeted at professionals and sports aficionados.
Key Property Highlights
£839 pcm
10%
Q3 2025
£5,000
- Excellent views of the River Mersey and well-crafted grounds.
- For an elegant stay, mix one-, and two-bedroom apartments with quality finishing in studios.
- Attracting sports fans as well as cultural visitors, its proximity to Albert Docks, Tate Liverpool, and the proposed Everton Stadium draws.
Paragon House
Located in Trafford, just a 30-minute drive from Preston, Paragon House is a premium serviced apartment complex offering privacy, security, and convenience. Paragon House offers a perfect arrangement for short-term visits serving business clients and guests with gated entry, a digital concierge, and social lounges.
Key Property Highlights
£1,183 pcm
10%
£1,000
- Exclusive amenities including a digital concierge, gated community access, landscaped gardens, and social lounges.
- Close to Old Trafford and Trafford Bar tram stop, making city exploration easy for visitors.
- Near Trafford’s master plan area, which is expected to fuel growth and boost visitor numbers.
- Just a short walk from Old Trafford and Salford Quays, appealing to sports fans and business travellers.
For investors in and around Preston, these complexes provide a great combination of short-term rental appeal, location advantages, and amenities, which attract serviced apartments. From business travellers to visitors and sports enthusiasts, every site offers different benefits catered to short-stay guests.
The Increasing Demand for Serviced Apartments in Preston
Why People Are Choosing Serviced Apartments in Preston?
The growth of Preston’s serviced apartment market has been hard to miss, and honestly, there are so many reasons for it. Think about it: with the University of Central Lancashire (UCLan) right in the heart of the city, you’ve got thousands of students, visiting academics, and researchers arriving each year.
Then there’s Royal Preston Hospital, which employs a huge number of healthcare professionals. People like that—students, doctors, professors—aren’t just visiting for a night or two. They’re often here for weeks, months even, and a hotel room just doesn’t cut it for that kind of stay.
With their “homey” vibe, fully fitted kitchens, free Wi-Fi, even laundry facilities at affordable prices, serviced flats completely close that gap.
Serviced apartments in Preston are strategically located near the high street, bus station, and the nearest airport, making them the right place for both business and leisure travellers. This convenient placement allows easy access to the city’s best attractions and nearby transport hubs.
Another major attraction is the location of these flats. Many of them are right in the midst of Preston city centre, therefore renters live near the finest areas in town. Imagine being within a short stroll of the Harris Museum, the lovely Miller Park, and all the pubs, cafes, and shops along the high street. Located near the scenic Miller Parks, these accommodations let tenants enjoy nature and relaxation just moments away.
For business folks, being near Preston Station or the bus station is a game-changer. It makes getting to Manchester, Liverpool, or other nearby cities super easy. When you consider all these benefits, it makes sense that so many people choose serviced apartments in Preston over hotels.
What’s Driving the Demand for Serviced Apartments?
The demand for serviced apartments in Preston results from a few major changes in the neighbourhood; it is not sudden. One of the main drivers? Business’s travel. Preston’s been getting a lot of attention lately with the £434 million City Deal. This huge investment has brought a wave of regeneration projects, especially around Winckley Square and other parts of the city centre.
These projects have turned Preston into a bit of a businesses hotspot. With companies coming in, you get more corporate visitors who are staying for weeks or months, and serviced apartments just make more sense for them—they’re comfortable, private, and they feel more like a home than a hotel room does.
These apartments offer a true home away from home experience with self-catering accommodation that includes fully equipped kitchens and cooking facilities, ensuring guests can enjoy the flexibility and convenience of preparing their own meals.
Tourism is another big piece of the puzzle. Just last year, Lancashire saw around 68 million visitors (Visit Lancashire says so), with a good chunk of those visitors stopping in Preston to check out places like the Harris Museum, historic landmarks, and the River Ribble’s scenic views.
Tourists these days seem to want more than a quick hotel stay; they’re looking for an experience. Serviced apartments let them live like locals—they can cook, host friends, relax in a living room, all things a hotel doesn’t usually offer. And the Office for National Statistics (ONS) has pointed out that tourism in the North West has been steadily rising, so Preston’s appeal as a serviced accommodations spot is only growing.
Who Stays in Serviced Apartments in Preston?
So, who’s choosing to stay in these serviced apartments? Honestly, it’s a pretty varied group. You have got your business travellers who often have long-term assignments and appreciate the flexibility and privacy that serviced apartments offer. And then there’s the academic crowd. For those on a business trip, serviced apartments provide comfort, privacy, and a productive environment.
UCLan’s international student community, for instance, brings in around 3,000 students each year (according to UCLan), many of whom need temporary, comfortable places to live that offer a bit more than the usual student dorm.
It’s the same with visiting professors and researchers—these folks are here for extended periods and want somewhere they can settle into, not just a bed and a bathroom.
Families and tourists make up another big part of the tenant base. Serviced apartments are ideal for families since they usually feature many bedrooms and a suitable living space, therefore increasing their practicality over a small hotel room.
Visit Britain claims that families seeking the flexibility and space to see a city at their own speed are driving demand for family-friendly hotels. Preston, with its central location and decent mix of serviced flats, has become a go-to destination for visitors, businesspeople, students, and families. All searching for a place that feels somewhat more like home.
Strategies to Increase Returns from Serviced Apartments
Although Preston’s serviced apartments present a great source of income, like any investment, it requires some planning to truly maximise those profits.
Unlike regular rentals, serviced apartments are adaptable; you may modify rates, add facilities, and change your strategy to meet the market. Here are a few strategies that I’ve found can make a real difference to your bottom line.
Guests benefit from excellent value with thoughtful amenities like car parking and the assistance of an expert team that ensures a seamless stay for all types of visitors, from students to professionals.
Maximising Occupancy Rates
One of the most straightforward ways to boost income is to keep your occupancy rates high. It might sound obvious, but a surprising number of landlords miss out simply because they aren’t using the right tactics to keep their property full.
The trick here is to make your house appealing to several types of visitors. Preston draws a broad spectrum of guests—business travellers, visitors, and students equally—so providing multiple booking choices (nightly, weekly, or monthly stays) can help you grab more of the market.
It’s essential to get your property listed on multiple booking platforms. Airbnb and Booking.com are the big names, but there are also niche sites that cater specifically to corporate clients. As Preston continues to grow, with major employers like Royal Preston Hospital and UCLan attracting people from all over, there’s a steady stream of potential tenants. Find the perfect apartment with fully equipped kitchens, stylish interiors, and convenient city-center locations.
Visit Britain estimates that business travel in the North West is projected to keep rising, so using these platforms with the correct marketing will have a significant impact. Keeping your schedule full also depends on answering questions fast and being available during peak travel seasons or local events.
Adding Value with Extra Amenities
Let’s face it, people expect a bit more than the basics these days, especially from serviced apartments. A simple room with a bed won’t cut it anymore. Free wifi is an absolute must—Statista reports that 85% of travellers consider it essential for their stay.
But beyond the basics, a few thoughtful touches can set your apartment apart. High-quality linens, a fully equipped kitchen, or even a coffee machine can make guests feel at home and keep them coming back.
Think about who you’re trying to attract. Business travellers will appreciate having a desk or workspace, while families will love having in-unit laundry and extra storage space. For tourists, adding a bit of local flavour—like a guide to Preston’s best cafes, restaurants, or a list of walking paths along the River Ribble—can make a memorable impression.
You could also consider offering optional services, like weekly cleaning or a concierge, especially if you’re targeting long-stay corporate clients. These extra amenities not only make your apartment more attractive but can also justify a higher nightly rate, boosting your income in the long run.
Pricing Strategies for Higher Returns
Pricing is one of those things that can make or break your success in the serviced accommodation game. Go too high, and you risk losing guests to competitors; go too low, and you’re not maximising your income potential.
A dynamic pricing strategy—where you adjust rates based on demand—can help you find that sweet spot. In Preston, demand tends to rise during university events, corporate conferences, and tourist season, so it makes sense to raise your rates during those times to take advantage of the increased interest.
Another smart move is offering discounts for extended stays. This is appealing to business travellers and students who need somewhere to stay for a longer period. While it may seem counterintuitive to offer a lower rate, it helps maintain occupancy and guarantees a steady income.
You might also consider offering early bird or last-minute discounts to fill gaps in your calendar. AirDNA, for example, reports that properties using dynamic pricing can see up to a 20% increase in revenue compared to fixed-rate pricing. Watching demand trends and adjusting your prices accordingly is a simple way to get more out of your investment.
Benefits of Professional Management Services
Managing a serviced apartment can be a handful, especially if you’ve got other things on your plate. This is where Flambard Williams comes into play. We handle everything from guest communications to maintenance, so you can be hands-off while still reaping the benefits.
With a solid understanding of the Preston market, we know how to market your property effectively, attracting high-quality tenants—whether they’re business professionals, students, or tourists.
Our team handles dynamic pricing, working to keep occupancy rates high and ensure you’re getting the best possible returns. For investors looking to maximise their returns without getting caught up in the daily grind of property management, we offer an ideal solution.
The Future Outlook for Serviced Apartments in Preston
Upcoming Regeneration Projects in Preston
One of the most exciting things happening in Preston right now is the wave of regeneration projects transforming the city. With the City Deal, we’re seeing a huge £434 million investment that’s revamping infrastructure, adding new housing, and giving a major facelift to public spaces.
Take the Preston Western Distributor Road project, for instance—it’s going to improve connectivity across the city, making areas more accessible and attractive to renters.
In the city centre, the upgrades around Winckley Square and the Harris Quarter are bringing a fresh, vibrant feel to Preston. I’ve seen firsthand how these kinds of projects can draw people to a city—businesses relocate, professionals move in, and tourists take notice. For investors, this spells opportunity. Revitalised areas always attract demand for high-quality, short-term accommodation, and serviced apartments are perfectly positioned to capture this demand.
Predicted Rental Growth for Serviced Apartments
Rental prices in Preston have been steadily increasing, and I expect serviced apartments to ride this wave. Recent data from the Office for National Statistics (ONS) shows that rents in the North West have been on the rise, and Preston’s city centre is no exception. With all the new development and a stronger local economy, demand for flexible, high-quality accommodation is only going to increase, which will likely push rental rates even higher.
If you’re an investor, this rental growth is a good indicator of what’s to come. I’ve seen this trend play out in other cities, and the pattern is clear—when there’s a demand for better housing in well-connected areas, rental rates climb.
For serviced apartments, which already command a premium, this upward trend could mean excellent returns in the coming years, especially in areas benefiting from regeneration.
Impact of Local Economic Development on Demand
Preston’s economy has been on an impressive upward path, and that’s great news for property investors. I’ve noticed that when a city’s economy grows, so does the demand for all kinds of housing, especially serviced apartments.
As businesses move into Preston and expand, they bring along a steady influx of professionals who need temporary, comfortable accommodation. Employers like Royal Preston Hospital and UCLan consistently attract healthcare professionals, academics, and other experts who are in town for weeks or months and want more than just a hotel room.
I’ve seen how these economic shifts create a ripple effect. When new businesses open, they bring along employees, contractors, and clients who all need accommodation, often for extended periods.
Many of these professionals prefer serviced apartments over traditional rentals because they offer a homely environment and a level of flexibility that hotels simply can’t provide. With Preston’s economy showing no signs of slowing, this demand for serviced apartments is only going to grow, making it a promising area for investors.
Trends in Tenant Preferences and Expectations
Let’s talk about tenants’ expectations because, as an investor, understanding these can really set you apart. Tenants today want more than just a bed to sleep in. They’re looking for that “home-away-from-home” feel, and that’s where serviced apartments have a huge advantage.
Things like free Wi-Fi, fully equipped kitchens, and comfortable living spaces have become almost standard. For those staying a while, these amenities make a world of difference.
But it’s not just about the amenities—tenants also want flexibility. Business travellers, for instance, might need options for last-minute bookings or the ability to extend their stays. Families, on the other hand, appreciate extra space and maybe even multiple bedrooms.
There’s also a growing interest in properties with a local touch; guests love having guides to the best local spots or recommendations for nearby attractions like Miller Park or the Harris Museum. For investors, staying on top of these preferences and tailoring properties accordingly can make your serviced apartments stand out in the market.
How Preston’s Growing Population Affects Investment
Preston’s population has been steadily growing, and that’s good news for anyone invested in serviced apartments. According to ONS data, more people are moving to Preston, particularly young professionals and families who find the city more affordable than places like Manchester. The job market is growing, the city’s infrastructure is improving and more people are looking at Preston as a viable place to live and work.
When we see population growth like this, it directly impacts the demand for housing, especially flexible options like serviced apartments. Many new residents need temporary accommodation before settling into permanent homes and serviced apartments are the perfect fit.
For investors this steady increase in population means a larger pool of potential tenants. Keeping demand for serviced apartments strong and stable. If you’re considering investing in Preston, this growth is a solid reason to feel optimistic about the long-term prospects.
Preston is on the brink of something big. The combination of economic growth, regeneration projects, and a rising population creates a fantastic environment for serviced accommodation investments.
Conclusion
Investing in serviced apartments in Preston is a smart move. All thanks to high demand from students, professionals and tourists. With major regeneration projects and strategic developments like Angel Gardens, Berkeley Square, Sovereign Point and Paragon House. There’s a solid foundation for both immediate rental income and long-term growth.
By focusing on strategies like boosting occupancy rates, adding value through amenities, and leveraging professional management services like Flambard Williams, investors can maximise returns while keeping things hands-off. Preston’s serviced apartments offer a promising mix of steady income and capital appreciation—an ideal addition to any property portfolio.
Area Guide
Ricky Ellson
Firstly and foremost, I have been a dedicated senior advisor for many years (not to give away my age!
My strong work ethic has provided a solid track record of successfully building portfolios for many clients.
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