The north-western city of Preston is attracting growing numbers of young professionals, and one major office space operator is seeing its value.
Preston’s renowned Winckley Square has had one of its Georgian buildings snapped up by Wrkspace, which offers serviced offices, commercial units and meeting rooms to businesses. The purchase marks the company’s expansion across Preston and Bolton, both of which are vastly improving areas undergoing major regeneration right now.
The space bought by Wrkspace in Winckley Square is called Derby House, and is already home to a number of businesses. The refurbishment after purchase will create a mix of serviced offices, break-out areas, meeting rooms and co-working space.
Retaining key features of the building
As the UK increasingly moves towards modern working and co-working, such businesses are seeing growing success, and are targeting areas that are likely to have high numbers of people to take up the office space.
“Derby House is a great addition to our portfolio of serviced office spaces,” a spokesperson for Wrkspace said.
“Its enviable location in the centre of Preston and the green space of Winckley Square make it an ideal spot for smaller and growing businesses.”
“We plan to refurbish the building to bring it in line with our other properties, while retaining key features. Tenants will also have access to our regular networking events.”
The company already owns three office spaces in Preston: Old Docks House, The Watermark and Enterprise Court; and an office in Bolton: Hamill House.
Modern working, modern living
As more businesses move towards “modern working” to keep up with the changing world, including increased internet connectivity meaning it is easier than ever to work remotely, businesses like this are becoming more mainstream. Property investors in areas where co-working spaces are available can use this as a key selling point, particularly for young professionals who are more likely to be attracted to an area where this is an option.
Reducing commuting times is one of the key issues for today’s workers – read this article on why all landlords should factor this into their rental purchases.
Take a look at our investments page to see our opportunities in Preston and Bolton.
