Belgravia makes double Preston resi swoop

The family-run development firm has acquired the 469-apartment Stoneygate Central and the 21-storey LoftHaus co-living development for a combined £8m. 

Urban Village 

Belgravia bought the two-acre Stoneygate site, previously known as Dryden Mill, from Stoneygate Living for £6.3m. 

The Manchester Road scheme, designed by Davd Cox Architects and with a GDV of £120m, forms part of Preston’s 1,600-home Stoneygate masterplan. 

Belgravia will market the one- and two-bedroom apartments under its Urban Collection brand. 

Renamed Urban Village, the development will include a gym and wellness facility, resident lounge areas, and on-site food and beverage offering. 

The project also features 8,000 sq ft of commercial space across three ground floor units. 

Stoneygate Living won planning approval for the project in April 2023 before putting the site on the market the following month. CBRE advised Stoneygate on the sale. 

Zerum is the cost and project manager for the scheme, Orlando Reid has been appointed to market the apartments, and Hill Dickinson is providing legal advice. 

“[The acquisition] represents a major investment into Preston, and demonstrates our trust in the potential of this amazing city,” said Christopher Howell, director at Belgravia. 

“As a family, we are determined to support the city into the next stage of its continued growth by delivering fantastic communities, attracting and retaining alumni, and showcasing Preston on the global stage.” 

LoftHaus

LoftHaus is the tallest residential building currently proposed in Preston. Credit: via planning documents

Belgravia has also bought the 21-storey LoftHaus scheme, the tallest residential building planned in Preston. 

The co-living scheme, also designed by David Cox Architects, will be marketed under Belgravia’s Contemporary Collection brand. 

The firm acquired the site, which has a GDV of £45m, from A.S.S.H Investments for an “initial investment” of £1.7m. 

LoftHaus will provide several communal amenities including co-working spaces, residents library, a cinema and games room, spa and wellness facilities, communal lounges, laundry facilities, landscaped rooftop garden, and a ‘mega kitchen’. 

“We believe this amazing city, that’s built on pioneers of industry, can spearhead the growing demand for luxury co-living communities that showcase what it means to be proud of your community,” Howell said. 

“This represents our clear intent to honour the growing needs of the property market. As a family, we are excited to showcase LoftHaus on the global scene.” 

Construction of both schemes is due to begin next year.